David Whitehouse, CEO of Offshore Energies UK
UK poised for surge in CCS investment
Country has Europe’s largest CO₂ storage potential but regulatory and policy issues must be resolved to enable growth, says Offshore Energies UK
Investment in the UK’s CCS sector is expected to rise sharply through the end of this decade as developers look to exploit the country’s 78GT of CO₂ storage potential, the largest in Europe, according to industry group Offshore Energies UK (OEUK). Over the next decade, the UK CCS market is anticipated to grow to around £2b/yr ($2.53b) by 2030 and potentially £3b/yr by 2040. This would mean a cumulative £20b spend to 2035 and £34b to 2040. Unlocking CO₂ imports will offer an opportunity to increase this further, potentially by another £10b, OEUK said in its 2024 Business and Supply Chain Outlook report. £3b – Annual CCS spend in 2040 “The capex intensity and front-loaded nature o
Also in this section
9 September 2024
Addition of CCS was a factor in court’s decision to overturn FERC’s authorisation for NextDecade’s Rio Grande LNG project
2 September 2024
Recently finalised investment tax credits have brought much-needed clarity for Canadian CCS developers, but carbon price uncertainty remains a concern
29 August 2024
Use of captured carbon to make synthetic fuels merits more attention from investors and policymakers
22 August 2024
C-Questra applies for onshore storage permit for site in Grandpuits as part of project to establish highly efficient DACS value chain on French soil
