Centrica Plc boss Chris O’Shea is on a mission to show the UK government that it needs to rapidly speed upThe company’s aging Morecambe gas site, off the west coast of England, wasn’t selected for a support scheme this summer that’s backed by billions of pounds of government funding. Even after that disappointment, the energy business still plans to start burying carbon emissions from its own gas processing site nearby around early 2025.
Centrica’s CCS plans are centered on Morecambe in the Irish Sea, operated by joint venture Spirit Energy. Over the past four decades, Spirit Energy says the field has pumped out enough gas — more than 6.5 trillion cubic feet — to fill Scotland’s famous Loch Ness 25 times over. While Morecambe didn’t get support under the UK CCUS program, it already has a carbon storage license. And Centrica owns all the assets — the terminal, the pipeline — so it can press ahead with capturing its own emissions.
“Overall, the evidence is clear that the UK would have minimal chance of reaching net zero by 2050 without employing CCUS,” Esin Serin, a policy fellow at the Grantham Research Institute on Climate Change and the Environment, wrote in a recent blog. But it “should be part of, not an excuse to delay, an overarching push for clean technologies,” she said.
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Source: CNBC - 🏆 12. / 72 Read more »