Eni and Snam: first project for the capture and storage of CO2 in Italy. And a first hybrid bond is also imminent

Eni and Snam announce the start of CO2 injection in a depleted methane field in Ravenna. This is the project Ravenna Ccs, J between the two groups, the first Italian factory for the collection and permanent storage ofCarbon dioxidein the service of the industries in the region to contribute to the Decarbonization of their production. Eni and Snam are also conducting research and development initiatives for a possible future reuse of captured CO2.

The Ravenna CCS project guarantees a reduction of over 90% of the CO2 emitted from the power plant’s chimney, with peak values ​​of up to 96% at a carbon concentration of less than 3% and at atmospheric pressure, the toughest conditions currently available from an industrial point of view. In this way, the Ravenna CCS the first project in the world on an industrial scale with such detection efficiency.

Snam announces its first hybrid bond

Meanwhile, Snam has started placing its first hybrid bonda security that has similar characteristics to bonds and stocks with a perpetual or very long term. The first yield indications for the perpetual security, which is not callable until September 2029, are in the range of 5,125-5,250%. The expected ratings from Moody’s and Fitch are Ba1 and BBB, respectively.

Phase 1: Capture of 25,000 tons of CO2 per year emitted by Casalborsetti

The Stage 1 The project launched today aims to catchTransport and storage of CO2 emissions determined by the Eni power plant natural gas processing Subscribein the municipality of Ravenna, is estimated at around 25,000 tons per year. Once captured, the carbon dioxide transportedthrough pipelines that were previously used for the transport of natural gas and were converted accordingly, to the West Sea offshore platform Porto Corsinito finally injected in the namesake depleted gas fieldwhere it comes from Shock permanently at a depth of about 3000 meters. In addition, the project will Performance The Casalborsetti power plant’s collection facility is powered by electrical energy from renewable energy, This could prevent further CO2 emissions, the company said in a statement.

Phase 2: Storage of up to 4 million tonnes per year

In the next few years, in correspondence with the Phase 2, The development of the Ravenna CCS on an industrial scale is planned. It includes the storage of up to 4 million tons per year by 2030, in line with the objectives of the National Integrated Plan for Energy and Climate (Pniec). “CO2 capture and storage is an effective, safe and now available method to reduce emissions from energy-intensive industries whose activities cannot be electrified,” says Claudio DescalziCEO of Eni. “We are leveraging our depleted fields, our existing infrastructure and our know-how in reinjection techniques to offer a very competitive service that is generating great interest.”

Developments abroad

“We are leveraging our historical capabilities in the transport and storage of molecules, particularly in the Po Valley, where we are already rooted with strategic assets that have supported the country’s economic and social development for decades,” he says. Stefano VenierCEO of Snam. “The joint venture with Eni is also on the same course as similar Projects of European interest We are involved in this project through our subsidiaries in France, Greece and the UK and expect synergies that will have a positive impact on the success of Ravenna CCS.”