Eni-Snam, Authorization Granted for CO2 Network

(Alliance News) - The Ravenna CCS project by Eni and Snam for the capture and storage of CO2 is making progress.

As reported by Milano Finanza on Thursday, February 2, the Ministry of the Environment has granted environmental approval for the Ferrara-Casalborsetti and Ravenna-Casalborsetti pipelines, a key junction in the CCS Pianura Padana transport network.

The infrastructure will connect industrial districts to Eni's Casalborsetti plant, from which CO2 will be stored in depleted offshore Adriatic fields. The project involves around 700 companies, with a total value exceeding EUR62 billion.

The project is now awaiting the Single Authorization, which Snam will request shortly. The goal is to reach 4 million tonnes of CO2 stored annually by 2030, with the potential to increase to 16 million and an overall capacity exceeding 500 million tonnes.

Hard-to-abate companies are calling for the release of the implementing decree to enable the final investment decision; estimated incentives range between EUR200 million and EUR400 million per year.

The green light also strengthens the agreement with GIP, of BlackRock, which in December acquired 49.99% of Eni CCUS Holding. The joint venture may also acquire 50% of CCS Ravenna: the site is set to become a Mediterranean hub and one of the world's largest CO2 storage centers.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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