John Swinney will set out new Scottish Government funding for a 'landmark' carbon capture and storage project in Aberdeenshire today.
The first minister will visit the Acorn project in St Fergus which plans to store carbon underneath the North Sea using technology which could create more than 20,000 jobs.
The former UK Government confirmed funding for the project last year but it is yet to formally receive Treasury backing.
The SNP leader will meet representatives of the Acorn Project at St Fergus near Peterhead before touring the site today.
In January 2022, the Scottish Government put £80million on the table with the aim of accelerating the project. However, the funding never materialised with ministers saying the cash was 'reprofiled', following delays from the UK Government in the process.
The UK Government, under former Prime Minister Rishi Sunak, already committed funding to the project as part of a £20 billion package across four sites.
Speaking before his visit to the North-east, Mr Swinney said: 'Carbon capture and storage (CCS) will play a huge role in Scotland’s net-zero future.
'The Scottish Government is wholly committed to supporting the Acorn project, which will take advantage of our access to vast CO2 storage potential and our opportunities to repurpose existing oil and gas infrastructure.
'Scotland’s energy transition presents one of the greatest economic and social opportunities of our time.
'This landmark project will help to support a just transition for oil and gas workers in the North-east and across the country by drawing upon their world-leading skills and expertise to create many good, green jobs in the coming years.'
Mr Swinney will also meet seafood businesses at nearby Peterhead later in the day.
He added: 'The North-east is also a powerhouse of Scotland’s world-class, seafood processing sector, which contributes massively to our economy. According to recent figures, the region alone is home to more than 3,379 full-time equivalent jobs.
'The Scottish Government will continue to engage and work closely with the sector and communities to ensure that Scotland’s fishing industry, the wider seafood sector and our marine environment can thrive sustainably.'
Source: Aberdeen and Grampian Chamber of Commerce
