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The chief executive of carbon capture developer Storegga has warned that the UK is being caught and overtaken by other countries when it comes to knowledge and skills in carbon capture and storage.

Nick Cooper was commenting following the publication by UK sector trade body the Carbon Capture and Storage Association (CCSA) of the industry’s recommended pathway to deliver the UK Government's net zero strategy ambition of storing 50million tonnes of carbon dioxide per year by 2035.

CSSA boss Ruth Herbert has called for Westminster to show similar commitment to carbon capture and storage (CCS) as it has to the offshore wind sector for the building of a new world-leading net zero industry in the UK.

Storegga is a key partner of the Scottish Cluster, an exciting development which could led to thousands of jobs - and at its heart is the Acorn carbon capture and storage project based at the St Fergus gas terminal.

There was widespread dismay last year after the UK Government's decision to snub the north-east in a £1billion funding competition which saw rival projects south of the border being successful, leaving the Scottish Cluster only a reserve.

Energy Voice says that, responding to the CCSA report, Storegga’s Mr Cooper said: "In four words, we can summarise the UK position on carbon capture - get on with it!"

He added that, while the UK has a "head start" in CCS in terms of knowledge and skills, "we have not unleashed our potential quickly enough and other countries are now catching up and overtaking".

The CEO pointed to the US and Saudi Arabia as examples of countries embracing the technology as they move away from oil and gas, adding that "many more are following suit".

He went on: "The UK is sitting on an opportunity to reinvigorate its energy industry in the wake of the international shake-up caused by monster gas prices. We are uniquely placed to repurpose our North Sea geology and infrastructure, transition and create jobs, and capitalise on our shipping capability. Global investors believe in the UK as a hub for decarbonisation technology. We need to make sure our policymakers echo this support.

FTSE 100

Meanwhile the UK's leading share index, the FTSE 100, was up five points at 7,543 shortly after today's trading started, after closing ahead 65 points yesterday.

Brent Crude futures improved by 1.03% to $111.37 a barrel.

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