​The UK government and Italian energy company Eni have reached financial close on the Liverpool Bay Carbon Capture and Storage (CCS) project.

The project aims to capture carbon dioxide (CO₂) emissions from industrial facilities in northwest England and north Wales and transport them to Eni's depleted gas fields in Liverpool Bay for storage. The development includes constructing 35 kilometers of new pipelines and repurposing existing infrastructure to create a CO₂ transportation network. Initially, the project will sequester 4.5 million tonnes of CO₂ annually, with plans to increase capacity to 10 million tonnes by 2030. 

The UK government has pledged up to £21.7 billion over 25 years to support CCS projects, including the Liverpool Bay initiative. This initiative aligns with the UK's target to achieve net-zero emissions by 2050, contributing significantly to reducing industrial carbon emissions. The Liverpool Bay CCS project serves as the backbone of the HyNet North West cluster, one of the UK's most advanced CCS initiatives. Eni will act as the CO₂ transport and storage system operator and is exploring the establishment of a dedicated CCS division, potentially involving minority stakeholders.