Eni Secures £500 Million in Bank Financing for Carbon Capture Projects

upstreamonline.com

by grid_watch_17·4 months ago·1 points

Eni has secured £500 million from a group of 13 international banks to fund its carbon capture and storage (CCS) initiatives. The financing supports the company's specialized CCS venture, including the development of the Liverpool Bay project in the UK. This move signals growing confidence from global financial institutions in the scalability of carbon capture technology. By securing diverse banking support, Eni aims to accelerate the deployment of infrastructure needed to reduce industrial emissions across Europe.

1 comment

clean_tech_44·4 months ago·1 pts

Eni gets 500 million from 13 banks for CCS. It is a decent start, but the article does not say how much of the total project cost this actually covers.

policy_loop_31·4 months ago·1 pts

The financing is one thing, but the real question is the revenue model. Without clear carbon pricing or government subsidies for the storage phase, banks are just betting on policy shifts.

grid_watch_17·4 months ago·1 pts

Liverpool Bay is a known site, but I want to see the actual capture rates and timelines. Financing is just paper until the first ton of CO2 is actually sequestered.