Offshore staff
MIDDLESBROUGH, UK – Five major oil companies have formed a consortium to accelerate a carbon-capture project in northeast England.
BP (as operator), Eni, Equinor, Shell, and Total will support the Net Zero Teesside project (previously known as the Clean Gas project), initiated by OGCI Climate Investments.
The program involves constructing a transportation and storage system to gather industrial carbon dioxide (CO2), compress it and store it safely in a reservoir beneath the North Sea.
This new infrastructure, the consortium hopes, will encourage new investment in the region from industries that wish to store or use CO2.
In addition, a combined cycle gas turbine facility with carbon capture technology will provide low carbon power to complement renewable energy sources.
The project aims to capture up to 6 MM metric tons/yr (6.61 MM tons) of CO2 emissions, equivalent to the annual energy consumption of 2 million homes in the UK.
It should also deliver up to £450 million ($576 million) annually to the economy of the Teesside region and support up to 5,500 jobs.
Net Zero Teesside has signed memoranda of understanding with three existing industrial partners.
03/03/2020
