Page 11 - EurOil Week 16 2021

EurOil ENERGY TRANSITION EurOil

Storegga, Shell, Harbour

team up for Acorn plan

UK CLEAN energy developer Storegga has brought infrastructure to inject and trap CO2 under the
on board Royal Dutch Shell and Harbour Energy North Sea bed. It will also produce blue hydro-
Total was expected to as equal-equity partners at its Acorn carbon, cap- gen arriving from offshore fields, helping further
take part in the venture ture and storage (CCS) project in Aberdeenshire. decarbonise industry in the area.
as well, but opted out The group expect to launch the project in the The Acorn project recently secured
as part of efforts to mid-2020s, with its annual CO2 storage capa- GBP31mn ($42.8mn) as part of the UK’s Indus-
rationalise its portfolio. bility set to reach 5mn tonnes per year (tpy) by trial Decarbonisation Strategy.
the end of the decade. The partners have not said Commenting on the partnership, Shell said
when they anticipate taking a final investment it hoped to have access to a further 25mn tpy
decision (FID), however. of CCS capacity by 2035. The company is also
“Safely and securely managing and remov- involved in upcoming projects in Norway and
ing the emissions of industry and society is core Australia, and has a 1mn tpy CCS unit in opera-
business, this agreement cements our relation- tion in Canada.
ship with our industry partners Shell and Har- “But to reach net zero the world needs much
bour Energy, and allows us to look forward with more CCS capacity,” Shell said. “The Acorn pro-
confidence to the next few years as we race to ject is an exciting vision for how we could help
tackle climate change in a way that’s sustaina- deliver that for Scotland and the UK.”
ble,” Storegga CEO Nick Cooper commented in Harbour Energy, recently formed from a
a statement. merger between Chrysaor and Premier Oil, said
France’s Total was also expected to partici- CCS was part of its “commitment to a low-car-
pate in the venture, but decided not to commit bon future and attaining our operational goal of
as part of efforts to rationalise its clean technol- net zero by 2035.”
ogy portfolio. Storegga’s investors are Singaporean sover-
Acorn, situated at the St Fergus gas terminal eign wealth fund GIC, Australia’s Macquarie and
near Peterhead, is set to use existing oil and gas Japan’s Mitsui. ™

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