Italian oil and gas major Eni has agreed a Heads of Terms (HoTs) with the UK Government for the transportation and storage of carbon dioxide (CO2) at the HyNet North West industrial hydrogen and CCS cluster.
The principles set out in the HoTs pave the way for the completion of agreements in the coming months, setting the project on course to become the “world’s first” asset-based regulated CCS business.
Eni will act as the CO2 transport and storage operator of the HyNet consortium, which is expected to store 4.5 million tonnes of CO2 per year in the first phase of the project once operational in 2025.
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