There was big news last week for the UK’s low-carbon future. The Government has officially approved the construction of the HyNet North West industrial cluster, unlocking around £2 billion in contracts.
Speaking at the Future of Energy Security Summit in London, Prime Minister Keir Starmer confirmed financial close for the Liverpool Bay CCS project, a key part of HyNet. The project will begin by storing 4.5 million tonnes of CO₂ per year, with plans to expand that to 10 million tonnes by the 2030s. That puts it at the heart of the UK’s push toward net zero.
Financial close marks a major milestone, moving the HyNet Liverpool Bay T&S project into construction. It follows the December financial close of Northern Endurance Partnership phase 1 project. Together, these projects show real momentum behind megatonne-scale CCS in the UK.
While these early projects are heavily supported by the state, they will help prove that carbon storage at this scale is both workable and beneficial. That opens the door to more commercially-led developments like our own Poseidon and Orion projects with Perenco CCS (Carbon Storage)
Scaling CCS is vital if we are going to meet net zero targets and stay within our carbon budgets. We are heading into a very important chapter.
Read more about this fantastic news from from Offshore Energy!
