Eni, Snam's Ravenna CCS Phase 2 selected for EU Innovation Fund financing

• Eni and Snam's Ravenna CCS Phase 2 secured European Commission selection for funding under the 2025 Innovation Fund's large-scale Net Zero Technologies category.
• The project targets annual CO2 storage capacity of 4 million metric tons by 2030, potentially expanding to 16 million in subsequent phases.
• Ravenna's total storage capacity is about 500 million metric tons, representing more than 70% of announced Mediterranean capacity.
• The hub will receive CO2 from Italian and European industrial emitters for permanent storage in offshore Adriatic reservoirs.
• The partners' joint venture will develop offshore storage, compression facilities and a multimodal terminal.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. SNAM S.p.A. published the original content used to generate this news brief via SDIR, the Italian regulatory disclosure system (Ref. ID: 0542-67-2026_TELEBORSA.pdf), on October 20, 2026, and is solely responsible for the information contained therein.