The leading body for the offshore energy industry, OEUK, is set to hold its first ever breakfast briefing next week, sponsored by Deloitte, that will focus on carbon capture, usage and storage (CCUS) – a key tool in the UK’s fight against climate change.
The event ‘Rolling out CCUS – What’s next for CCUS and how do we get there?’ will be held in Aberdeen on May 2 at P&J Live.
CCUS is a technology that captures CO2 from a variety of sources such as gas-fired power generation, steel refining and cement manufacture. The CO2 is then transported via pipelines or ships and safely stored under the seabed. The Intergovernmental Panel on Climate Change recognises actively removing carbon from the atmosphere through CCUS essential if we are to keep global warming to within 1.5 and 2°C.
With the UK government recently pledging £20bn for the technology in the latest Spring Budget, and the offshore oil and gas sector’s existing capabilities to develop this technology at scale, there is now no better time to kickstart CCUS in the UK as a means to promote economic growth whilst combatting climate change.
Attendees will have the chance to gain an insight into the current state of play for this technology and delve into the challenges we need to overcome to make this a UK success story.
OEUK’s Sustainability and Policy Director Mike Tholen said:
“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.
“If we get this right, it could unlock £100 billion of work for UK manufacturing employers by 2050. This will support UK jobs, cut emissions, boost the economy, and develop skills that can be exported globally.
“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 will include:
- Michael Tholen, OEUK Sustainability & Policy Director (Chair)
- Steve Cox, Exec VP; Hses & Global Services, Harbour Energy
- Catherine Witt, Head of Subsurface, Storegga
- Søren Reinhold Poulsen, Greensand Project Director and Head of Producing Assets, INEOS Energy
- Keith Anderson, Technical Consulting Manager, Wood
- Liz Wells, Assistant Director in the Leeds Real Assets Advisory Team, Deloitte