OEUK has today welcomed the news that Eni’s Liverpool Bay carbon capture and storage (CCS) project has reached financial close, meaning it can now move into construction phase.
The CCS project is the backbone of Hynet, one of the most advanced CCS clusters in the world. It will play a vital role in decarbonising and safeguarding existing industries across the North West of England and North Wales as they transition to net zero, while creating significant opportunities for the UK’s energy supply chain.
Commenting on the announcement, OEUK Chief Executive David Whitehouse said:
“We welcome the progressaion of the Liverpool Bay project – a landmark moment for the UK’s carbon capture and storage sector. Eni’s leadership as transportation and storage operator showcases how our existing offshore expertise is being deployed to deliver climate solutions.
“Today’s announcement means that both Track-1 clusters (Hynet & East Coast) will commence construction this year. A firm commitment is also needed to support the crucial Track-2 Acorn and Viking clusters, which are vital to establish a robust CCS sector, as well as other CCS clusters that can be developed in a similar timeframe.
“As we set out in an independent report published yesterday, a self-sustaining CCS industry is achievable by the 2030s – but only if all four clusters move ahead to gain momentum, reduce costs and incorporate learnings. We look forward to continued collaboration across industry and government to accelerate the delivery of this critical infrastructure across the UK.”
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