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Veri Energy is leading a project to repurpose the Sullom Voe Terminal in the Shetland Islands for carbon capture and renewable energy. The terminal, once Europe's largest crude oil terminal, has secured four carbon storage licenses with a total capacity exceeding 500 million tonnes.

The company aims to achieve up to 10 million tonnes per year of storage capacity, with the Thistle field expected to be operational by 2033. Development will progress in phases, with final investment decisions anticipated around 2030.

Challenges include limited UK government funding until 2027, impacting financial momentum for projects. Veri Energy is also advancing e-fuels into pre-FEED.