A company which was backed by the British Government has raised 16 million US dollars (£12 million) from investors including US oil major Chevron in a bid to spread its technology to capture carbon from industrial plants.
I was recently reminded of a new year’s resolution that I made some years ago - one which I’m successfully keeping to this day. Back then, I committed to making the transition towards a greener, more sustainable personal lifestyle. But here’s the clever bit: I figured it would also be OK to carry on pretty much as before with all my current behaviours. So, no really big changes required and certainly no tough decisions to make. Now, maybe it’s just me, but expecting the oil industry to get right behind the energy transition whilst sticking with MER does feel kind of similar.
Offshore Europe 2019 has precipitated a number of reports on the importance of Carbon Capture Utilisation and Storage (CCUS) to achieving the UK’s net zero target. Indeed some commentators state that CCUS is essential; it is not an option.
Carbon capture and storage (CCS) seems to be everywhere at moment – in just the last week, two major reports have come out calling on governments in the UK to act on its delivery. Over the last year, report after report has emphasised the necessity of CCS in tackling climate change, and the urgency of deploying it in industrial clusters around the UK.
A Royal Dutch Shell Plc-operated carbon capture and storage project in Canada has hit a milestone of sequestering 4 million tons of carbon dioxide about six months ahead of schedule and at a lower cost than estimated, helped by better-than-expected reliability.
A feasibility study to bring a carbon capture and storage (CCS) project to the north-east has started, almost two years after the original £1billion venture was controversially shelved by the UK Government.