UK awards 20 offshore CO₂ storage licences
First licence round sees 12 developers secure rights to appraise storage sites with potential to hold 10pc of UK’s annual emissions
The UK’s CCS sector has taken a significant step forward with the award of 20 offshore carbon storage appraisal licences to 12 project developers including Centrica-owned Spirit Energy and UK independent oil and gas producer Neptune Energy. The awards, made via the UK’s first offshore storage licensing round, cover a total area of 12,000km² and include sites off the coasts of Aberdeen, Teesside, Liverpool and Lincolnshire. The licensed sites have the combined potential to store about 10pc of the country’s total annual emissions, says regulator the North Sea Transition Authority (NSTA). The UK has set a target of developing enough capacity to store 30mn t/yr of CO₂ by 2030. “We are work
Also in this section
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation