![]() Shell UK upstream director Steve Phimister, who is joining Petroleum Development Oman as managing director in July, said: “Shell will seek to have access to an additional 25 million tonnes a year of carbon, capture and storage capacity by 2035. Nick Cooper, chief executive of Storegga, said: “Safely and securely managing and removing the emissions of industry and society is our core business, this agreement cements our relationship with our industry partners, Shell and Harbour Energy, and allows us to look forward with confidence to the next few years as we race to tackle climate change in a way that’s sustainable, cost efficient and deliverable.” It’s hoped the initiative could breathe new life into Peterhead, with the town’s deepwater port acting as a hub for the transport and storage of CO2 from across the UK and North West Europe. The project is expected to be operational in the mid-2020s – Storegga previously said it planned to make an FID on the project early next year.īy 2030, Acorn is predicted to be storing at least 5Mt/yr of CO₂ by 2030, half the CO2 emissions set out in the UK Government’s Ten Point Plan for a green Industrial Revolution by 2030. Researchers are also exploring the potential for creating blue hydrogen using natural gas at the site, with associated emissions dealt with by CCS. The decision to withdraw followed a review of its extensive portfolio of carbon capture, use and storage projects, Storegga confirmed today.Īcorn, which is based at the St Fergus gas terminal near Peterhead, is exploring using existing oil and gas infrastructure to inject and trap carbon dioxide under the North Sea. The partners declined to provide details of any investment commitments, but said there was “still a lot of commercial work going on”.įrench energy giant Total was also an early supporter of Acorn, but the Paris-headquartered firm has exited the project as part of its “portfolio management strategy”. The so-called Acorn Development Agreement “formalises” the relationship between the trio, who will guide the initiative through to a final investment decision (FID), construction, operation and beyond. Oil and gas firms Shell and Harbour Energy have struck a deal to become equal-equity partners alongside Storegga in an Aberdeenshire carbon capture and storage (CCS) project.Ĭlean energy firm Storegga, through wholly-owned subsidiary Pale Blue Dot Energy, will continue to be the lead developer on the Acorn project.Īnglo-Dutch giant Shell and Harbour, formed last month through Chrysaor’s reverse takeover of Premier Oil, had already been providing funding and supporting technical studies to progress the project. Loading Spinner An icon of a loading spinner. Success Tick Timeout An icon of a greyed out success tick. Information An icon of an information logo. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Video Camera An icon of a video camera shape. Previous An icon of an arrow pointing to the left. Notice An explanation mark centred inside a circle. Next An icon of an arrow pointing to the right. Hamburger Menu Icon An icon used to represent a collapsed menu. Search Icon A magnifying glass icon that is used to represent the function of searching. ![]() Magnifying Glass An icon of a magnifying glass. Comments An icon of a speech bubble, denoting user comments. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Breaking An icon of an exclamation mark on a circular background. Pause Icon A two-lined pause icon for stopping interactions. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Is Public An icon of a human eye and eyelashes. Telephone An icon of a traditional telephone receiver. Profile An icon that resembles human head and shoulders. Linked In An icon of the Linked In "in" mark. ![]() Facebook An icon of the Facebook "f" mark. Caret An icon of a block arrow pointing to the right. Cancel An icon of a circle with a diagonal line across.
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