Latest news with #EniSpA
Bloomberg
10 hours ago
- Business
- Bloomberg
Eni to Sell 20% Stake in Plenitude to Ares for About €2 Billion
Eni SpA agreed to sell a 20% holding in its renewable arm Plenitude to Ares Alternative Credit Management for about €2 billion ($2.3 billion), a second stake sale in the unit. The transaction is based on an equity value of Plenitude of €10 billion, corresponding to an enterprise value of more than €12 billion, the renewable business said in a statement on Monday.
Wales Online
6 days ago
- Business
- Wales Online
Billion-pound pipe goes 'trenchless' to protect famous North Wales beach
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info A multi-billion pound project to lay pipes on the North Wales coast has been tweaked to accommodate shipping lanes – and a tiny bird. A pipeline is planned at Talacre, Flintshire, to shift carbon dioxide (CO2 ) captured from industrial plants out under the sea to empty gas reservoirs beneath Liverpool Bay. The Point of Ayr terminal is to be modified so it can receive and export CO2 to offshore fields for storage. The proposed pipeline will also carry electric and fibre optic cables from Talacre to the New Douglas offshore platform. The two-year HyNet North West Project was green-lighted last year, and received a marine licence in May. But a new pipeline route is now planned and the developer has also given more details about the way it's being laid. During construction, the works will have a major impact on the village of Talacre and some effects on the tens of thousands of holidaymakers who visit its famous beach each year. Works and deliveries will be scheduled outside peak tourism periods 'as far as practicable'. Following concerns raised about the potential impact on vessel movements in and out of the Port of Mostyn, the pipeline has been realigned some 250 metres further east along Talacre beach. This will place it an extra 250 metres (2.3km in total) away from the Little Tern colony at Gronant dunes in neighbouring Denbighshire. The applicant, Liverpool Bay CCS Limited (LBCCS), a member of the Eni SpA group, said this means the pipeline will pass through an area with less than 1.5% of the Terns' foraging distribution and activity area. The Gronant dunes are home to the only breeding colonies in Wales, and are internationally recognised for their avian significance. Given the project's proximity to environmentally sensitive sites on the Dee Estuary SPA, RSPB Cymru had pressed for 'robust mitigation measures' and further 'enhancements'. The North Wales Live Whatsapp community for top stories and breaking news is live now - here's how to sign up (Image: LBCCS) The pipeline itself is to run 2.5 metres under the beach and dunes. This is to be installed using a 'trenchless' technique called horizontal directional drilling (HDD). For this, an 3m sq entry pit must be dug northwest of the Port of Ayr terminal, running to an exit pit on the foreshore. Here, a temporary steel container known as a sump will be buried three-metres deep to capture any fluids emitted from the drilling process. Once the conduit is in place, cables will be brought to the beach by boat and pulled through by a cable laying vessel anchored offshore. LBCCS said: 'HDD allows us to lay cables underground without disturbing the land above. For HDD, we only need to dig small exit and entry pits on either side of the area. 'As we will be drilling underneath the sand dunes, instead of digging through them, it will minimise disruption and environmental impact to the area.' (Image: LBCCS) The intertidal works are envisaged to take up to eight weeks, split between trenchless drilling and cable pulling. During drilling, estimated to take four weeks, some locations will be closed off entirely to the public. In response to concerns raised by Ramblers Cymru, temporary diversions will be arranged across the dunes for pedestrian use. This includes a temporary diversion of the Wales Coastal Path. As works traffic will need to access Talacre Beach car park, where possible this will be undertaken during quieter times. The same applies to works adjacent to Point of Ayr Holiday Park and Haven Presthaven Holiday Park. The wider project will take much longer, around 27 months. During this time, excavations will be covered or securely fenced, and temporary screens will be erected around site compounds to protect nearby properties from dust and noise. (Image: LBCCS) Subject to planning permission, HDD conduit construction, and cable installation, is expected to start in February to April 2026. The revised timing of the HDD exit pitworks on the foreshore has been scheduled for February 2026, which is outside of the Little Tern breeding season. The cable shore pull, and simultaneous lay and burial, by the cable laying vessel, are scheduled for July 2026 at the end of the Little Tern breeding season, close to their migratory departure. Sign up for the North Wales Live newsletter sent twice daily to your inbox To avoid any 'major conflict', the cable laying vessel will be positioned to allow safe and unobstructed passage of ships and boats into and out of the Port of Mostyn. The cable team will stay in continuous communication and the port's vessel traffic control to make any adjustments if needed. A new public consultation has been launched to generate feedback on the proposals. This began yesterday (Monday, June 16,) and runs until 11.59pm on July 14. You can provide feedback or submit enquiries by emailing hello@ or sending letters to Freepost LBCCS (you don't need a stamp). Find out what's happening near you
North Wales Live
6 days ago
- Business
- North Wales Live
Billion-pound pipe goes 'trenchless' to protect famous North Wales beach
A multi-billion pound project to lay pipes on the North Wales coast has been tweaked to accommodate shipping lanes – and a tiny bird. A pipeline is planned at Talacre, Flintshire, to shift carbon dioxide (CO2 ) captured from industrial plants out under the sea to empty gas reservoirs beneath Liverpool Bay. The Point of Ayr terminal is to be modified so it can receive and export CO2 to offshore fields for storage. The proposed pipeline will also carry electric and fibre optic cables from Talacre to the New Douglas offshore platform. The two-year HyNet North West Project was green-lighted last year, and received a marine licence in May. But a new pipeline route is now planned and the developer has also given more details about the way it's being laid. During construction, the works will have a major impact on the village of Talacre and some effects on the tens of thousands of holidaymakers who visit its famous beach each year. Works and deliveries will be scheduled outside peak tourism periods 'as far as practicable'. Following concerns raised about the potential impact on vessel movements in and out of the Port of Mostyn, the pipeline has been realigned some 250 metres further east along Talacre beach. This will place it an extra 250 metres (2.3km in total) away from the Little Tern colony at Gronant dunes in neighbouring Denbighshire. The applicant, Liverpool Bay CCS Limited (LBCCS), a member of the Eni SpA group, said this means the pipeline will pass through an area with less than 1.5% of the Terns' foraging distribution and activity area. The Gronant dunes are home to the only breeding colonies in Wales, and are internationally recognised for their avian significance. Given the project's proximity to environmentally sensitive sites on the Dee Estuary SPA, RSPB Cymru had pressed for 'robust mitigation measures' and further 'enhancements'. The pipeline itself is to run 2.5 metres under the beach and dunes. This is to be installed using a 'trenchless' technique called horizontal directional drilling (HDD). For this, an 3m sq entry pit must be dug northwest of the Port of Ayr terminal, running to an exit pit on the foreshore. Here, a temporary steel container known as a sump will be buried three-metres deep to capture any fluids emitted from the drilling process. Once the conduit is in place, cables will be brought to the beach by boat and pulled through by a cable laying vessel anchored offshore. LBCCS said: 'HDD allows us to lay cables underground without disturbing the land above. For HDD, we only need to dig small exit and entry pits on either side of the area. 'As we will be drilling underneath the sand dunes, instead of digging through them, it will minimise disruption and environmental impact to the area.' The intertidal works are envisaged to take up to eight weeks, split between trenchless drilling and cable pulling. During drilling, estimated to take four weeks, some locations will be closed off entirely to the public. In response to concerns raised by Ramblers Cymru, temporary diversions will be arranged across the dunes for pedestrian use. This includes a temporary diversion of the Wales Coastal Path. As works traffic will need to access Talacre Beach car park, where possible this will be undertaken during quieter times. The same applies to works adjacent to Point of Ayr Holiday Park and Haven Presthaven Holiday Park. The wider project will take much longer, around 27 months. During this time, excavations will be covered or securely fenced, and temporary screens will be erected around site compounds to protect nearby properties from dust and noise. Subject to planning permission, HDD conduit construction, and cable installation, is expected to start in February to April 2026. The revised timing of the HDD exit pitworks on the foreshore has been scheduled for February 2026, which is outside of the Little Tern breeding season. The cable shore pull, and simultaneous lay and burial, by the cable laying vessel, are scheduled for July 2026 at the end of the Little Tern breeding season, close to their migratory departure. Sign up for the North Wales Live newsletter sent twice daily to your inbox To avoid any 'major conflict', the cable laying vessel will be positioned to allow safe and unobstructed passage of ships and boats into and out of the Port of Mostyn. The cable team will stay in continuous communication and the port's vessel traffic control to make any adjustments if needed. A new public consultation has been launched to generate feedback on the proposals. This began yesterday (Monday, June 16,) and runs until 11.59pm on July 14. You can provide feedback or submit enquiries by emailing hello@ or sending letters to Freepost LBCCS (you don't need a stamp).
Bloomberg
29-05-2025
- Business
- Bloomberg
Kazakhstan Mulls Building Key Gas Refinery Without Oil Majors
Kazakhstan is considering building a natural gas refinery at the Karachaganak oil field by itself, after the cost of the development proposed by international oil companies ballooned to about $6 billion, according to people familiar with the matter. The companies, led by Eni SpA and Shell Plc, have delayed the planned completion of the facility to 2030 from the previously planned date of 2028, the people said. They have also asked the Kazakh state to help cover about $1 billion of the project's budget in order to make it commercially viable, the people said.
Yahoo
14-05-2025
- Business
- Yahoo
Eni Offers $1B Bond
This article was first published on Rigzone here Eni SpA returned to the United States bond market with the launch Tuesday of an offering with a nominal amount of $1 billion. The 10-year bond, which matures 2035, has an annual interest of 5.75 percent. It was placed at a re-offer price of 99.184 percent. Eni tapped Barclays, BofA Securities, Citigroup, Goldman Sachs International, IMI-Intesa Sanpaolo, JP Morgan, Morgan Stanley, Natixis, Santander, SMBC and Wells Fargo Securities as joint bookrunners. 'Eni's offering generated significant interest from the market, reaching a demand of about $5.7 billion, from more than 200 institutional investors', the Italian state-backed integrated energy company said in an online statement. 'The proceeds of the issuance are expected to be used to fund Eni's ordinary financing needs', Eni added. At the end of the first quarter (Q1), Eni had EUR 4.78 billion ($5.31 billion) of short-term debt and EUR 4.69 billion of current portion of long-term debt, according to its quarterly report April 24. Eni logged EUR 1.41 billion in adjusted net profit attributable to shareholders for the January-March 2025 period, down 11 percent from the same quarter last year as oil prices weakened and oil and gas output fell. Before adjustment for nonrecurring or extraordinary items, net income was EUR 1.17 billion, down 3 percent year-on-year. Eni saw liquid production drop 1 percent year-over-year to 786,000 barrels a day. Natural gas production declined 9 percent to 4.5 billion cubic feet per day. Upstream turnover totaled EUR 5.41 billion, down 4 percent year-on-year. Refining throughput decreased 8 percent year-on-year to 5.86 million metric tons. Sales of chemical products totaled 800,000 metric tons, down 7 percent. The refining and chemicals segment logged EUR 4.93 billion in sales, down 13 percent. Take control of your THOUSANDS of Oil & Gas jobs on Search Now >> 'The refining business reported a proforma adjusted loss of EUR 91 mln, lower both y-o-y and sequentially due to a continuing deterioration in products crack spreads', Eni said. 'The chemicals business reported a loss of EUR 0.24 bln amidst a prolonged downturn of the European sector due to lower demand and margin pressure from cost-advantaged players'. Eni sold 2.8 billion cubic meters (98.88 billion cubic feet) of liquefied natural gas in Q1 2025, up 4 percent year-on-year. Gas sales totaled 12.12 Bcm, down 22 percent. Eni's 'Global Gas and LNG Portfolio' segment generated EUR 5.59 billion in sales, up 9 percent. Eni's biorefining arm Enilive logged EUR 4.76 billion in sales, down 9 percent year-on-year. Plenitude, the company's renewables unit, registered EUR 3.72 billion in sales, up 11 percent year-on-year. Eni recorded EUR 1.08 billion in adjusted operating profit, up 9 percent year-on-year. Pro-forma adjusted earnings before interest and taxes fell 11 percent, which Eni attributed to Brent prices decreasing 10 percent. 'The resulting free cash flow of EUR 1.5 bln and the proceeds from the portfolio management of about EUR 3 bln, mainly relating to the closing of the KKR 25 percent investment in Enilive, funded EUR 1.2 bln of cash returns to shareholders (including the third installment of the 2024 dividend for EUR 0.76 bln) and contributed to reduce net borrowings of almost EUR 1.8 bln to EUR 10.3 bln from 2024 year-end', Eni said. To contact the author, email More From The Leading Energy Platform: North America Loses Rigs for 10 Straight Weeks President Trump Visits Saudi Arabia Macquarie Strategists Forecast 7.6MM Barrel USA Crude Inventory Build APA to Slow Down Activity amid Price Volatility >> Find the latest oil and gas jobs on << Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
