Eni Gets U.K. Funding for Carbon-Capture Project
By Christian Moess Laursen
Eni received government funding for its Liverpool Bay carbon-dioxide transport and storage facilities in northwest England, marking the launch of its HyNet project in the U.K.
The Italian energy major said Friday that the funding allocation was a key milestone toward the execution of the HyNet carbon capture and storage project. It didn't disclose amount of funding.
The project would change one of the U.K.'s most energy-intensive industrial regions into one of the world's first low-carbon industrial clusters, Eni said.
HyNet has an initial storage capacity of 4.5 million metric tons of carbon dioxide a year, with the potential to increase to 10 million tons a year after 2030, Eni said.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
October 04, 2024 03:07 ET (07:07 GMT)
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