Chancellor confirms ยฃ20bn CCS package โ but Acorn backers must continue wait
Chancellor Jeremy Hunt has confirmed a ยฃ20bn government support package for CCS, but developers of a flagship north east scheme must wait for further details.
Chancellor Jeremy Hunt has confirmed a ยฃ20bn government support package for CCS, but developers of a flagship north east scheme must wait for further details.
One area of the energy sector that everyone will be looking at following todayโs budget is carbon capture utilisation and storage, however, what does that mean?
The path has not run smooth for the north eastโs Acorn CCS project, however new funding commitments in the Spring Budget may finally see the pioneering plans take root.
A defining moment doesnโt 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 Jeremy Hunt vowed to commit ยฃ20bn to carbon capture technology over the next two decades, alongside new support for small modular nuclear reactors (SMRs).
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.
Scottish politicians have again pressed the UK government for certainty over the timeline for a major north-east carbon capture and storage project.
Scotlandโs First Minister is upbeat about the prospects for a major north-east decarbonistion project, amid growing uncertainty about its future.
The UK Government has been accused of putting jobs in the north-east at risk after delays to carbon capture funding.
Storegga has unveiled new branding ahead of its chief executive's appearance at the COP 27 conference in Egypt this week.
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 UKโs windfall tax measures.
The UK Government has snubbed a meeting with the team behind a carbon capture project that promises to deliver thousands of north-east jobs.
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.
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.
Over a third of the UKโs carbon emissions are generated by the 80 percent of domestic homes currently using natural gas for heating and cooking.
The UKโs first ever Carbon Capture and Storage (CCS) licensing round is just a week away, mooted by the regulator to โkickstart the next phase of this great industryโ.
The government is rightly pressing the urgency of the countryโs 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 Britainโs energy security' - Kwasi Kwarteng calls for the industry to โdouble down on investments in the clean energy transitionโ. Key to this is the acceleration of our home grown decarbonisation industry.
UK carbon capture developer Storegga has appointed Michael Alsford into the new role of head of corporate finance and investor relations.
The UKโs 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 new north-east low-carbon power station - that could create and support scores of green jobs - have taken a โmajor stepโ forwards.
Shell has unveiled new plans in a bid to get its rejected Jackdaw gas field in the North Sea back on track.
Scotland would be up to ยฃ6.7 billion better off with investment in carbon capture technology, the energy minister has said.
The UK Governmentโs decision to put the Acorn project on a reserve list offers โno advantageโ, says a world-leading carbon capture expert.
It is feared that Nicola Sturgeonโs recent comments on North Sea oil and gas may harm a key Aberdeenshire decarbonisation project.
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.