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Eni, Progressive Energy step up carbon capture plans in UK

·1-min read
FILE PHOTO: Eni's logo is seen in front of its headquarters in San Donato Milanese

(Reuters) - Italy's Eni and Britain's Progressive Energy Ltd have agreed to accelerate their existing carbon capture and storage (CCS) plans at the HyNet North West low carbon cluster project in the UK, the two groups said on Thursday.

Under the deal, Eni will develop and operate onshore and offshore transportation and storage of CO2 in regard to the Liverpool Bay assets.

Progressive Energy will lead and coordinate the capture and hydrogen aspects of the project on behalf of HyNet North West.

The project is aimed at creating the UK's first low carbon cluster and speeding up the country's decarbonisation plan.

The project is part of Eni's move to gradually reposition itself away from oil and gas in its energy transition and reach a net zero emissions target by 2050.

(Reporting by Federica Urso, editing by Stephen Jewkes and David Evans)