Major Funding Boost for Carbon Capture Projects in Merseyside and Teesside
Key Ideas
  • The UK government has committed funding for two carbon capture cluster schemes in Merseyside and Teesside, kick-starting projects that promise to create thousands of construction jobs in the North.
  • The Net Zero Teesside project, led by bp and Equinor, will sustain 3,000 construction jobs and generate 860MW of low carbon electricity while capturing up to two million tonnes of CO2 emissions annually.
  • The HyNet North West project in Merseyside, involving businesses like Eni, Essar, and Ineos Inovyn, aims to capture 10 million tonnes of CO2 per year by 2030 and will establish a hydrogen pipeline network along with carbon capture initiatives.
  • Both projects are set to transform the regions by providing energy security, creating job opportunities, and facilitating private sector capital investment, marking a significant step towards sustainable industrialization.
The UK government has made a substantial funding commitment to support two major carbon capture projects in Merseyside and Teesside, heralding a significant boost for the regions. The Net Zero Teesside project, a £4 billion initiative led by bp and Equinor, received government backing to proceed with construction, promising to create 3,000 construction jobs and generate 860MW of low carbon electricity while capturing significant CO2 emissions annually. The captured CO2 will be transported by pipeline to the North Sea for safe storage. Tees Valley Mayor, Ben Houchen, hailed the approval as a monumental day for Teesside, emphasizing the project's potential to provide energy to households, enhance energy security, and create long-term job opportunities. In Merseyside, the HyNet North West project, involving companies like Eni, Essar, and Ineos Inovyn, aims to capture 10 million tonnes of CO2 per year by 2030. This initiative will drive private sector investment of £5 billion, facilitating the re-industrialization of the region. The project includes the construction of separate hydrogen and carbon dioxide pipelines, along with carbon capture initiatives at various industrial sites. The development consent for the CCUS cluster was granted in March, paving the way for the project's progression. The construction plans entail the establishment of a CO2 gathering network, electricity generating stations, and onshore/offshore carbon transportation pipelines. Various contractors and consortiums have been appointed to carry out different aspects of the projects, spanning power, capture, compression, pipeline construction, and offshore systems engineering. The HyNet project in Merseyside involves repurposing existing natural gas pipelines and constructing new sections to create a comprehensive pipeline network, connecting industrial users and facilitating carbon capture initiatives. Overall, these projects represent a significant step towards sustainable industrialization, job creation, and private sector investment in the regions, marking a positive development in the UK's efforts to combat climate change and transition towards a low carbon economy.
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