Linklaters advises Eni on first-of-its-kind carbon capture and storage transportation network project in the UK
Linklaters has advised Eni on the regulation, development, construction and financing of the Liverpool Bay CCS project in the UK, which has been successfully awarded an economic licence and storage permit and has now reached financial close on a debt financing package with commercial banks.
With an initial storage capacity of 4.5 million tonnes of CO2 per year in the first phase, and the potential to increase to 10 million tonnes of CO2 per year in the 2030s, the project will make a significant contribution towards reducing the impact of hard-to-abate industries and achieving the UK’s CCS ambitions.
The project will transform one of the UK’s most energy-intensive industrial regions into one of the world’s first low-carbon industrial clusters by reusing the depleted reservoirs and associated infrastructure operated by Eni in Liverpool Bay. The project will not only guarantee local employment, supporting the decarbonisation of hard-to-abate industries, but will also be able to maintain the UK’s industrial competitiveness for the long term by creating new production chains and jobs.
Mark Russell commented:
"We are very proud of our work with longstanding client Eni on this transformational project, building on almost 20 years of leadership in global carbon capture and storage. We are deeply committed to supporting industrial decarbonisation projects like Liverpool Bay CCS that are pivotal to achieving global emission reduction goals. This role is a great example of how we continue to lead on complex and impactful projects driving change across the global energy and infrastructure sector."
Maryam Adamji commented:
"Linklaters has been at the heart of UK CCUS development for many years - from our role on some of the earliest UK projects and subsequently the CCUS Taskforce which formed the basis of the latest CCUS business models, through to our involvement in the Government’s CCUS expert groups, we are committed to the development of first-of-a-kind regulatory frameworks to help drive our energy transition. We are incredibly proud to have supported Eni on this landmark project, which will play a vital role in meeting the UK’s net zero targets and demonstrates our market-leading multidisciplinary energy sector expertise."
The Linklaters team was led by Energy & Infrastructure partners Mark Russell, Maryam Adamji and Daniel Tyrer, alongside counsel Rasha Sami, managing associates Isabella Peplinski and Anna Saenko, and associate Mariah Cartsidimas.
Key members of the Eni legal team included Enrico Caligaris, Federica Andreoni, Richard Waterlow, Stefano Torta, Michele Ausiello and Roberta Migliaccio.
