Neptune says CCS can take it beyond net-zero by 2030
UK-based independent oil and gas producer says CCS capacity can exceed scope one and three emissions by end of decade
UK-based independent oil and gas producer Neptune Energy has set a new goal to “go beyond net zero” by 2030 by raising the volume of carbon it puts into carbon capture and storage (CCS) above the level of its scope one and three emissions. The firm is progressing CCS projects in the Dutch and UK sectors of the North Sea that could see it store more than 9mn t/yr of CO₂ by the end of the decade. That would exceed its projected direct scope one and scope three emissions, which are forecast to be 8.7mn t in 2030. Less than 0.5pc of Neptune’s emissions are scope two, the company says. It is working with its partners to calculate scope two emissions on an equity share basis. “Gas will continue to
Also in this section
3 May 2024
Developers look to government’s forthcoming budget to restore support as industry suffers loss of momentum
1 May 2024
Abundant storage and low cost of capturing CO₂ from sharply rising gas production mean NOC’s ambitious CCUS targets look well within reach
29 April 2024
Decarbonisation push and shifting multilateral trade policy sharpens continent’s need for carbon trading
29 April 2024
Canada’s oil sands producers need policy certainty to make the multibillion-dollar investments needed to achieve net zero, Pathways Alliance president Kendall Dilling tells Carbon Economist