By Giulia Petroni

Eni SpA on Monday said that it will form a joint venture with gas grid operator Snam SpA to develop a carbon capture-and-storage project in Italy.

The oil-and-gas major said phase one of the project involves capturing 25,000 tons of carbon dioxide emitted from its natural-gas treatment plant in the Emilia Romagna region. The CO2 will then be piped to a platform and injected into a depleted gas field in Ravenna's offshore.

The agreement also includes the implementation of studies and preparatory activities for subsequent development phases, Eni said.

Financial details of the project weren't disclosed.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

December 19, 2022 06:51 ET (11:51 GMT)

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