Chancellor confirms £20bn CCS package – but Acorn backers must continue wait
Chancellor Jeremy Hunt has confirmed a £20bn government support package for CCS, but developers of a flagship north east scheme must wait for further details.
Acorn
What is Carbon Capture Utilisation and Storage?
One area of the energy sector that everyone will be looking at following today’s budget is carbon capture utilisation and storage, however, what does that mean?
Timeline: Acorn CCS’ long road towards mighty oak
The path has not run smooth for the north east’s Acorn CCS project, however new funding commitments in the Spring Budget may finally see the pioneering plans take root.
Chancellor’s new support will be ‘defining moment’ for UK CCS
A defining moment doesn’t happen often. But Spring Budget 2023 will likely be viewed from mid-century as the time when the UK fully committed to Carbon Capture and Storage.
Chancellor vows £1bn per year support for carbon capture
Chancellor Jeremy Hunt vowed to commit £20bn to carbon capture technology over the next two decades, alongside new support for small modular nuclear reactors (SMRs).
Updated: MPs call on Chancellor to back Acorn CCS in Spring Budget
Scottish politicians urged Westminster to unlock funding for the Acorn carbon capture and storage project in the upcoming Budget and slammed slow progress on low-carbon development.
Energy secretary calls for ‘concrete timeline’ on Track 2 CCUS projects
Scottish politicians have again pressed the UK government for certainty over the timeline for a major north-east carbon capture and storage project.
Sturgeon ‘cautiously optimistic’ about Acorn ahead of key CCS update
Scotland’s First Minister is upbeat about the prospects for a major north-east decarbonistion project, amid growing uncertainty about its future.
SNP energy secretary slams ‘money wasting’ delays to north-east carbon capture scheme
The UK Government has been accused of putting jobs in the north-east at risk after delays to carbon capture funding.
Storegga rebrands ahead of CEO’s appearance at COP 27
Storegga has unveiled new branding ahead of its chief executive's appearance at the COP 27 conference in Egypt this week.
Harbour targets FIDs on Acorn, Viking CCS in 2024
Harbour Energy (LON:HBR) reported strong nine-month performance in 2022 as production rose by more than a quarter, but again took aim at the impact of the UK’s windfall tax measures.
Tory government ‘snubs’ north-east carbon capture backers
The UK Government has snubbed a meeting with the team behind a carbon capture project that promises to deliver thousands of north-east jobs.
‘Urgent action’ needed to ensure north-east is at heart of UK’s £100 billion CCS industry
Carbon capture and storage (CCS) could create and underpin thousands of green jobs in the north and north-east of Scotland in the coming years.
Acorn developers ‘nervous’ over further delays to Track 2 timeline
The developers of the Acorn project say they hope the scheme can be online by 2027 but are wary of further delays to government support packages, as ministers met this week to discuss decarbonisation efforts.
AAB: Why hydrogen and why now?
Over a third of the UK’s carbon emissions are generated by the 80 percent of domestic homes currently using natural gas for heating and cooking.
UK’s first ever CCS round will ‘kickstart next phase’ of industry
The UK’s first ever Carbon Capture and Storage (CCS) licensing round is just a week away, mooted by the regulator to “kickstart the next phase of this great industry”.
We need urgent action now if the UK is to seize its golden opportunity to lead the world in carbon capture
The government is rightly pressing the urgency of the country’s energy security challenge. It is imperative we also use this as an opportunity to make large and purposeful strides towards our net zero obligations. In his recent letter to the oil and gas industry - 'Accelerating investment to protect Britain’s energy security' - Kwasi Kwarteng calls for the industry to “double down on investments in the clean energy transition”. Key to this is the acceleration of our home grown decarbonisation industry.
Storegga appoints ex-Citi director as new head of corporate finance
UK carbon capture developer Storegga has appointed Michael Alsford into the new role of head of corporate finance and investor relations.
A year after launch, the North Sea Transition Deal is building our nation’s low-carbon future
The UK’s bus and lorry fleets, plus many homes, could be running on low carbon hydrogen within two decades thanks to green technologies now being pioneered in three UK regions renowned until now for their carbon-intensive industries.
Plans for trailblazing Peterhead CCS power station lodged with government
Plans for new north-east low-carbon power station - that could create and support scores of green jobs - have taken a “major step” forwards.
Shell with new plan to get Jackdaw gas field online in 2025
Shell has unveiled new plans in a bid to get its rejected Jackdaw gas field in the North Sea back on track.
Matheson: Scotland up to £6.7 billion better off with carbon capture investment
Scotland would be up to £6.7 billion better off with investment in carbon capture technology, the energy minister has said.
Carbon capture project at ‘no advantage’ on reserve list, claims expert
The UK Government’s decision to put the Acorn project on a reserve list offers “no advantage”, says a world-leading carbon capture expert.
Sturgeon oil stance putting private investment in Acorn ‘at risk’, says NE MSP
It is feared that Nicola Sturgeon’s recent comments on North Sea oil and gas may harm a key Aberdeenshire decarbonisation project.
Acorn developer Storegga to explore CCS opportunities in Norway
Storegga, a major partner in an Aberdeenshire decarbonisation project, has entered into an agreement to explore carbon capture and storage (CCS) across the North Sea.