CCS project gains funding

CCS project gains funding

The Acorn Carbon Capture and Storage (CCS) Project is set to move forwards after being awarded funding from the ‘Accelerating CCS Technologies’ (ACT) branch of the ERA-NET programme.

Acorn is a small-scale, full-chain project based in northeast Scotland. CO2, which would otherwise enter the atmosphere, is captured from existing emissions at the Saint Fergus gas terminal and then then transported offshore and injected deep underground for permanent sequestration in a saline formation.

The Acorn CCS project will re-use existing oil and gas infrastructure which is now redundant. Re-using the existing infrastructure is an attempt to reduce the project’s costs and make best use of old facilities.

The project would demonstrate the commercial and regulatory aspects of CCS project development in the UK and would include the commercial aspects of transferring oil and gas infrastructure for use in CCS, the implementation of CO2 storage permits, and the development of funding and risk allocation aspects of CCS projects.

Scottish First Minister Nicola Sturgeon said: “I welcome today’s announcement that EU funds have been awarded to the Acorn project.

“This initiative will explore how our oil and gas infrastructure in Aberdeenshire can be used for carbon capture and in doing so aims to show how a vibrant carbon capture and storage industry could develop in Scotland … Our offshore oil and gas fields are potentially the largest carbon storage resource in Europe, and we also have a huge amount of expertise in the oil and gas sector and the supply chain. Scotland is very much a natural centre for this vital new technology.”

CCS also has significant potential to generate economic value and create jobs through the delivery of future projects in the UK and internationally.