BlackRock’s Global Infrastructure Partners (GIP) completed the purchase of a 49.99% stake in Eni’s carbon‑capture and storage (CCS) business, Eni CCUS Holding, on December 18 2025. The transaction, valued at roughly $1.2 billion, establishes a joint‑control arrangement that gives GIP and Eni equal decision‑making authority over the unit’s operations and strategy.
GIP was acquired by BlackRock in 2024 for $12.5 billion, a move that expanded BlackRock’s infrastructure footprint and deepened its expertise in midstream assets. By adding the CCUS business to its portfolio, BlackRock is broadening its low‑carbon infrastructure exposure and positioning itself to capture the growing demand for carbon‑capture solutions.
The sale fits into Eni’s “satellite model,” a strategy that sells minority stakes in its transition assets to raise capital while retaining operational control. The 49.99% stake allows Eni to secure significant funding for its CCUS projects—such as Liverpool Bay, Bacton, L10, and the Ravenna rights—without relinquishing strategic direction.
Under the joint‑control framework, GIP will contribute its midstream infrastructure expertise, while Eni will provide technical and operational know‑how. The partnership is expected to accelerate the deployment of the CCUS projects, increase scale, and improve the economics of capturing and storing CO₂ from industrial clusters across Europe.
BlackRock has a long‑standing strategy of integrating ESG and climate data into its Aladdin platform. While the fact‑check does not confirm that Eni’s operational data is immediately being fed into Aladdin, the partnership lays the groundwork for future data integration that could enhance BlackRock’s analytics and investment decision‑making.
The transaction signals strong confidence in the commercial viability of carbon‑capture technology. Eni CEO Claudio Descalzi said the deal “confirms the attractiveness of our satellite model and reinforces our ambition to be a leading global player in the carbon‑capture and storage sector.” GIP Chairman and CEO Bayo Ogunlesi added that the partnership “will accelerate the deployment of CCUS solutions at meaningful scale, furthering our commitment to serve growing market needs for affordable, decarbonized energy and products.”
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