![]() Carbon Capture and Storage (CCS) is the description of capturing CO2 and storing it in suitable deep geological formations, as the last stage for blue hydrogen production. The project will contribute to the UK government's target of 20–30 million tonnes of storage per year as of 2030. Carbon Capture Utilisation and Storage (CCUS) is the process whereby CO2 is captured either from point emission sources or from the air and stored or used. The UK government will defy scientific doubts to place a massive bet on technology to capture and store carbon dioxide in undersea caverns, to enable an expansion of oil and gas in the North Sea. Commencement of CO 2 injection is initially expected to be 1 million tonnes per year in 2031, with expansion of CO 2 injection capacity to six million tonnes per year thereafter. The potential for the import of CO 2 from EU/EEA countries may be assessed in the future.Īfter completing a work program that will include an assessment on storage capacity and leakage risks, facility design and development of the long term monitoring plan, the project will seek a commercialization permit from the UK government, with a final investment decision expected in 2029. In addition, CS017 and CS018 license area is close to Humberside, one of the largest industrial zones in the UK, so the transport from CO 2 emission sources to storage site is short, making it possible to provide highly cost-competitive CO 2 transport and storage services. The UK Southern North Sea is regarded as a highly competitive area and a significant number of licenses containing matured gas fields within this basin were awarded. ![]() This project is an initiative to contribute to the UK’s decarbonization by storing CO 2 in the Amethyst and West Sole gas fields in the UK Southern North Sea. SEEL has acquired a 10% working interest, subject to regulatory approval, in the licenses from Carbon Catalyst Limited.Īfter completion the license equity position will be: In 2022 the UK government announced the first CS License application round and awarded 21 licenses including CS017 and CS018. The conversion of large abandoned oil and gas fields for carbon storage is expected to be particularly advantageous in terms of cost reduction and commercialization schedules, and integrated energy companies such as BP and Shell have actively acquired licenses in the UK last year. Carbon storage leaders like Denmark and the Netherlands argued the provision would simply pull cash away from existing CO2 storage projects benefiting fossil fuel giants in the process. Oil and natural gas development areas in the UK North Sea are thought to have enormous carbon dioxide storage capacity potential, and the UK government, which hopes to achieve CO 2 net-zero by 2050, has positioned the widespread use of CCS* as a key strategy for decarbonization. UK government’s decarbonization ambition through carbon storage
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