Equinor and BP have secure licenses for carbon storage in offshore UK

The British North Sea Transition Authority (NSTA) has awarded two carbon storages (CS) license to Equinor and BP in the South North Sea of ​​Great Britain.

Located approximately 70 km off the Humberside coast, the licenses include four separate carbon storage sites at a depth of almost 1,400 m.

Together with the existing nearby license owned by the Northern Endurance Partnership, the licenses have a storage capacity of CO₂ of up to 23 million tonnes per year (Mtpa).

The Northern Endurance Partnership is a joint venture between Equinor, BP, National Grid Ventures, Shell and TotalEnergies.

The issuance of the latest licenses, which have an eight-year assessment period, marks a step forward in the country’s efforts to achieve zero greenhouse gas emissions by 2050.

During the assessment period, licensees are required to reach stages of progress, including conducting seismic surveys and drilling wells to obtain data before obtaining a storage permit.

Senior Vice President of Equinor Low Carbon Solutions Gret Tweet said: “These North Sea Transition License licenses are an important next step in the development of what could become the world’s leading carbon capture and storage project, as well as the world’s first zero-capacity industrial region by 2040. year.

“Under the ten-point plan for the Green Industrial Revolution, the UK government has recognized the important role of carbon capture and storage in achieving the UK’s climate change ambitions.”

Along with the latest awards, the UK has six storage licenses. NSTA expects the first CO₂ injection from the CS project as early as 2025.

The UK government is aiming to reach its 2030 tonne carbon capture, use and storage target by 2030 and increase it to more than 50 million tonnes per year by 2035.

Earlier this month, Equinor announced it had agreed to sell its shares two oil and gas fieldsin the Norwegian North Sea.

Related companies Equinor and BP have secure licenses for carbon storage in offshore UK

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