News listings

energy-pedia climate change

United Kingdom flagUnited Kingdom

Europe / Caspian / CIS >>> United Kingdom

UK: NSTA grants carbon storage licences to Acorn


18 Sep 2023

Photo - see caption

Acorn has received licences from the North Sea Transition Authority for the Acorn East and East Mey CO2 stores, expanding its transport and storage system’s capacity deep beneath the North Sea to around 240 megatonnes (Mt) of CO2.

Awarded its first storage licence in 2018, Acorn will provide the transport and storage network for the Scottish Cluster to capture and permanently store CO2 emissions 100km offshore, in geological formations 2.5km below the seabed.

A spokesperson for Acorn said: 'These extensive areas of subsea acreage are key elements in Acorn’s long-term strategy. The North Sea Transition Authority’s award of these carbon storage licenses is welcome news, as we continue to respond to Government’s Track-2 process.

'Acorn’s stores, 2.5km below the seabed some 100km north-east of Peterhead on the Aberdeenshire coastline, have the potential to store c.240 million tonnes of CO2.'

Photo - see caption
NSTA grants carbon storage licences to Acorn

The Acorn Project and Scottish Cluster connections

The Acorn Development Partners – lead developer Storegga, technical developer Shell, Harbour Energy, and North Sea Midstream Partners – are currently preparing for detailed commercial negotiations with Government in Track-2.

Prime Minister Rishi Sunak confirmed Acorn had entered the Track-2 process in July 2023, making it one of four UK Government Carbon Capture, Usage and Storage (CCUS) clusters selected to deliver storage of 20-30 Mt of CO2 per year by 2030.

Before 2030, the Scottish Cluster could include nine different UK CO2 sources, spanning a variety of high-emitting sectors including industrial sites and power generation plants, as well as new hydrogen generation plant technology. Primary early sources of CO2 include: two of the gas terminals at the St Fergus Gas Complex; SSE and Equinor’s Peterhead Carbon Capture Power Station; a new blue hydrogen plant supplying INEOS and Petroineos sites at Grangemouth; and ExxonMobil and Shell’s facilities at Mossmorran.

Peterhead Port provides an additional opportunity for shipped emissions – increasing domestic reach and opportunities for international emitters, such as European and other international emitters, to utilise UK storage, further reducing costs for UK emitters.

The Scottish Cluster can help enable a just transition, delivering a sustainable future for hard-to-abate sectors, protecting jobs, supporting communities and creating value adding activity for Scotland and the UK.

Original announcement link

Source: Acorn





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 232

Completed Deals

Completed Upstream Deals: 6585

Company Profiles

Current Company Profiles: 2914

Corporate Activity

Current Corporate Activity articles: 4158

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1664

Geostudies

Current Geostudies articles: 974

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Bayphase
Syntillica
Union Jack Oil 149
Government of South Australia
energy365
OPC
Rose & Assocs
Borchwix
Telos NRG
Merlin
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com