UK carbon capture and storage could be worth £100 billion to local manufacturing employers. Report finds action needed now to make sure government’s net zero drive benefits UK jobs and economy.
Supply chain companies in the UK offshore oil and gas sector are in prime position to win work in carbon capture and storage (CCS) if urgent action is taken by governments and industry, a new report finds today.
CCS has been recognised as a critical technology to help energy intensive sectors, like cement and power generation, meet their net zero goals. The Government’s Net Zero Strategy says the UK will need to capture 50m tonnes a year by 2035.
The report, commissioned by the Department for Business, Energy and Industrial Strategy (BEIS) and produced by industry body OEUK through the North Sea Transition Deal, finds that offshore oil and gas supply chain companies already have some capabilities in areas including plant design and engineering, plant fabrication, and construction.
It identifies 13 actions for government and industry, including the need for support from government through early-stage funding and additional licensing rounds.
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