Neptune says CCS can take it beyond net-zero by 2030
UK-based independent oil and gas producer says CCS capacity can exceed scope one and three emissions by end of decade
UK-based independent oil and gas producer Neptune Energy has set a new goal to “go beyond net zero” by 2030 by raising the volume of carbon it puts into carbon capture and storage (CCS) above the level of its scope one and three emissions. The firm is progressing CCS projects in the Dutch and UK sectors of the North Sea that could see it store more than 9mn t/yr of CO₂ by the end of the decade. That would exceed its projected direct scope one and scope three emissions, which are forecast to be 8.7mn t in 2030. Less than 0.5pc of Neptune’s emissions are scope two, the company says. It is working with its partners to calculate scope two emissions on an equity share basis. “Gas will continue to
Also in this section
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation