Offshore Energies UK will host its first dedicated event on carbon capture and storage (CCS) next month, as it looks at next steps for the emergent sector.
Speakers from some of the sector’s major backers, including the likes of Storegga, Harbour Energy and Ineos Energy, will join trade body executives and delegates for the business breakfast event next week.
Convened under the theme of ‘Rolling out CCUS – What’s next for CCUS and how do we get there?’ the event will held in Aberdeen on 2 May at P&J Live.
OEUK says attendees will have the chance to gain an insight into the current state of play and delve into the challenges that must be overcome to make the industry “a UK success story.”
It comes weeks after the government confirmed a £20 billion support package for CCS clusters in the coming years, as part of its efforts to capture 20-30 million tonnes of emissions per year by 2030.
The Acorn project, based at St Fergus and central to the wider Scottish Cluster decarbonisation project, missed out on “Track 1” funding in 2021, and is now considered a “leading contender” for the following Track 2 process.
Chancellor Jeremy Hunt confirmed during the Spring Budget that this process was now open, with Track 2 bids due to be submitted by April 28.
Backers of the northeast scheme said they were “ready to step up” following the announcement, and that confirmation of the process would bring “much-needed investor confidence”.
OEUK’s Sustainability and Policy Director Mike Tholen said this week: “The UK has many of the components necessary for a successful CCUS sector – large industrial clusters which need to be decarbonised, extensive gas transport infrastructure and the largest capacity in Europe for storing carbon under the North Sea.
“Coupled with the scientific understanding of the geological requirements needed for long-term CO2 storage, we are positioned for success.
“We are in a prime position to develop this solution at scale – and indeed must do so at pace if we are to secure a first-mover advantage.
“Lots of progress has been made, but the UK government will need to continue its sustained support for CCUS if we are to secure leadership in this exciting new sector. So now is the time to hone our existing capability and make this £100bn opportunity a reality for industrial communities across the UK.”
Speakers include Mr Tholen as well as Harbour EVP for HSES and global services Steve Cox, Storegga Head of Subsurface Catherine Witt, Ineos’ head of producing assets Søren Reinhold Poulsen, Wood Technical Consulting Manager Keith Anderson and Deloitte assets advisory assistant director Liz Wells.