BP and Equinor granted UK carbon storage licences
East Coast Cluster reaches milestone as licences granted for four more sites in Southern North Sea
The UK has granted carbon storage licences to oil major BP and Norway’s Equinor for four new sites in the North Sea, marking a key milestone for the development of the low-carbon East Coast Cluster project in northeast England. The licences grant BP and Equinor a window of up to eight years to carry out seismic surveys and drill wells to acquire data before applying for storage permits for the four sites, which are around 70km off the coast of Humberside. “This is a major milestone for the East Coast Cluster project that will make a tangible impact on the UK's climate change ambitions,” says Grete Tveit, senior vice-president for low-carbon solutions at Equinor. When combined with the nearb
Also in this section
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
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology