Eni CCUS Holding is a major carbon capture and storage platform with projects across the UK, the Netherlands and Italy.. Rystad Energy provided an independent assessment of the markets and projects underpinning the portfolio, helping GIP evaluate the long-term commercial opportunity across a rapidly evolving segment of European energy infrastructure.

The investment case depended on the long-term development of the markets served by the portfolio. This required a detailed view of regulatory and funding frameworks across jurisdictions – including the UK’s evolving RAB and Track-based support mechanisms – alongside the scale and longevity of the addressable emitter base and the position of each project relative to competing transport and storage developments.

Rystad Energy combined proprietary data, market intelligence and sector expertise to assess the development of CO2 capture and storage markets, the durability and capture potential of relevant industrial emitters, and the regulatory and funding structures supporting investment. The analysis also benchmarked the portfolio against competing projects and infrastructure, providing a clear view of its positioning within the wider European CCUS landscape.

Together, these analyses provided GIP with an independent view of the opportunities, risks and critical market assumptions shaping the investment case. The transaction resulted in GIP acquiring a 49.99% interest in Eni CCUS Holding, with a portfolio spanning several of Europe’s leading emerging CCUS markets.