UK Government Advances CCS Strategy Amid Global Competition
The UK government aims to establish four carbon capture utilization and storage (CCUS) clusters by 2030, with £1.8bn in funding. This initiative is part of a broader strategy to promote low-carbon industrial growth and advance global decarbonization efforts.
Theia Market Signal Identification - AI Assisted
The UK government intends to establish four CCUS clusters by 2030, with targets to deliver at least two by the mid-2020s, backed by an £800mn Infrastructure Fund (CIF) and an additional £1bn allocation. The strategy focuses on creating networks for CO₂ transport and storage, combined with carbon capture and blue hydrogen production.
The government anticipates £2-3bn of investment from the oil and gas sector, with projects like Net Zero Teesside and the Acorn Project already in development. This shift may attract significant private sector investment while raising concerns about geographic investment disparities. The CIF's impact on project viability could influence the pace of CCS deployment across the UK.
Comments