HyNet North West, led by Eni, is one of the UK’s flagship low-carbon industrial clusters. HyNet North West is pioneering the integrated deployment of carbon capture and storage across Northwest England and North Wales. This includes carbon capture from existing hard-to-abate industries, along with the transport and storage (T&S) of CO2 in depleted offshore gas reservoirs. The cluster is also developing a future hydrogen production and distribution network.
The combination of the UK’s favourable regulatory and licencing frameworks, along with a clear demonstration of a viable market for CCS, supported project bankability. This enabled Eni to secure a £2.5 billion project financing package from a consortium of over 20 banks.
“The UK’s legislative framework to incentivise CCS projects has played a pivotal role in attracting private finance to scale the CCS industry, providing the regulatory certainty and investment signals needed for private sector participation in clean energy infrastructure. Eni is proud to have helped kickstart this important industry through our Liverpool Bay CCS project, as the backbone of the HyNet cluster. The success of this project will lay the foundation for further growth and innovation as the sector continues to evolve.” Claudio Descalzi, Chief Executive Officer, Eni
Discover the World Economic Forum White Paper, From Blueprint to Reality: A Stronger Business Case for Shared Energy Infrastructure, for more information and additional case studies.