The UK Continental Shelf has CO₂ storage potential
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
19 December 2024
The utility-scale battery energy storage system market is evolving rapidly, with diverse offtake models emerging to offer bespoke, flexible contracting solutions
13 December 2024
Prices in world’s largest compliance market have risen this year but remain below those seen in the EU
11 December 2024
Policymakers need to step up with a long-term, global strategy if the energy transition is ever to be a success
11 December 2024
CCUS and other carbon management technologies are gaining traction around the world, but heightened policy risk and other pressures will make 2025 a challenging year in some regions
