GIP to acquire 49.99% stake in Eni’s carbon capture platform

NEW YORK - Global Infrastructure Partners (GIP), a part of BlackRock (BLK), announced Monday it has entered into a definitive agreement to acquire a 49.99% interest in Eni CCUS Holding, a platform focused on carbon capture, utilization, and storage projects. BlackRock, with a market capitalization of $175.76 billion and a "GOOD" financial health rating according to InvestingPro, has demonstrated strong momentum, trading near its 52-week high of $1,171.89.

The Eni CCUS portfolio currently includes projects in the UK (Liverpool Bay and Bacton), the Netherlands (L10), and potential participation in Italy’s Ravenna CCS project. These assets aim to decarbonize industrial clusters by capturing and permanently sequestering carbon dioxide emissions. BlackRock’s involvement comes amid impressive financial performance, with revenue growth of 15.45% in the last twelve months and a solid dividend yield of 1.84%.

The partnership will focus on accelerating development of CCUS infrastructure across multiple geographies, targeting emissions from hard-to-abate industries such as steel, cement, and chemicals.

"GIP’s experience in midstream infrastructure, combined with Eni’s technical, operational and industrial capabilities, will help accelerate the deployment of CCUS solutions at meaningful scale," said Bayo Ogunlesi, GIP’s Chairman and CEO, according to the press release.

The agreement also includes rights for Eni CCUS to participate in potential future projects related to Eni’s depleted oil and gas fields, subject to regulatory and market conditions.

Eni CEO Claudio Descalzi noted that consolidating the company’s CCUS portfolio into a dedicated entity and bringing in GIP as a strategic partner would enhance their ability to deliver large-scale decarbonization solutions.

GIP, which manages over $183 billion in assets, views the energy transition as a significant investment opportunity. The firm estimates that delivering on global clean energy needs will require more than $100 trillion in investment, with CCUS representing a critical component of this transition. For investors seeking deeper insights into BlackRock’s investment potential, InvestingPro offers exclusive access to 12 additional ProTips and comprehensive financial analysis, including detailed Fair Value assessments and growth projections. The platform’s Pro Research Report provides in-depth analysis of BlackRock among 1,400+ top US stocks.

Financial terms of the transaction were not disclosed in the announcement.

In other recent news, BlackRock Inc. has announced a quarterly cash dividend of $5.21 per share, payable in September 2025 to shareholders of record as of early that month. Additionally, BlackRock is reportedly backing Sanjeev Gupta in his bid to maintain control over Speciality Steel UK, although specific financial details have not been disclosed. In a separate development, BlackRock is leading a consortium in advanced discussions to acquire a $10 billion stake in Saudi Aramco’s Jafurah natural gas project. The deal is expected to be finalized soon, according to Bloomberg. Meanwhile, BlackRock has advised its employees traveling to China to use loaner phones and leave company laptops behind, reflecting growing concerns among global companies about operations in the region. In the IPO market, Bullish is closing orders for its initial public offering ahead of pricing, with strong demand reported. This IPO has attracted significant interest from mutual funds and long-only investors.

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