Offshore staff
LONDON — Eni has an agreement in principle with the UK government’s Department of Energy Security and Net Zero concerning the economic, regulatory and governance model for transporting and storing CO2 at the HyNet North West industrial CCS cluster.
The project involves capture of emissions from industries in northwest England and northern Wales for storage in depleted offshore fields in Liverpool Bay in the East Irish Sea.
According to Eni, the Heads of Terms clear the path for completion of definitive agreements in the next few months.
The company is the designated CO2 transport and storage operator of the HyNet North West consortium. It also plans a second UK CCS hub to decarbonize the Bacton Energy Hub and the Thames Estuary region in southeast England, and in addition has a license to store CO2 in the depleted Hewett gas field in the southern UK North Sea.
In combination, HyNet North West and Bacton could potentially store 500 MM metric tons of CO2.
HyNet North West, which targets decarbonization of cement, energy and chemicals industries in the northwest, could be operational by the mid-2020s, Eni claimed, with an annual CO2 storage capacity of about 4.5 MMmt in the first phase rising to about 10 MMt after 2030.
Eni plans to deploy its expertise in storing gas in depleted fields over the past few decades for repurposing some of its existing upstream facilities worldwide into CO2 storage hubs, to decarbonize its own and third parties' industrial activities.
Its goal is to build storage capacity of 30 MMmt of CO2 by 2030 through projects under development in the UK, Italy, Libya, Egypt and Australia.
10.18.2023
