The Italian company Eni and the UK Government have reached an agreement for the financial closure of the Carbon Capture and Storage(CCS) project in Liverpool Bay.
Promoting carbon capture and storage
The financial closing opens the door to strategic investments that will mainly benefit local suppliers. In addition, the construction phase is estimated to generate around 2,000 jobs, contributing to the industrial communities of northwest England and north Wales.
The project is part of the UK’s 25-year £21.7 billion allocation for the country’s first two CCS clusters.
This investment, the result of our collaboration with Eni, demonstrates the government’s partnership with industry to drive growth and support engineers, welders and electricians in our mission to become an energy superpower.
We are ensuring the UK’s energy security to protect families and businesses and boost jobs through our Plan for Change.
Ed Miliband, UK Secretary of State for Energy Security and NetZero.
As the operator of the CO₂ transport and storage system of theHyNet industrial cluster, Eni will lead the implementation of the infrastructure needed to capture and store emissions from multiple industries.
This project will reuse part of the offshore platforms and 149 kilometers of onshore and subsea pipelines, complemented by an additional 35 kilometers of new connections. In its first phase, the system will have the capacity to store 4.5 million tons of CO₂ annually, with the potential to scale up to 10 million tons by 2030.
HyNet is one of the most advanced CCS projects in the world and will be instrumental in reducing emissions in sectors such as cement, waste-to-energy and low-carbon hydrogen production.
Follow us on social media and don’t miss any of our posts!
YouTube LinkedIn Facebook Instagram X (Twitter) TikTok
Source and photo: Eni
