UK: INEOS Backs Acorn Carbon Capture and Storage Project

Susanna Twidale
Friday, July 9, 2021

Chemicals giant INEOS said on Friday it will work with the Acorn carbon capture and storage project to help develop Scotland's first carbon capture storage system.

Some scientists say the technology to capture and store carbon dioxide (CO2) emissions will be needed to meet climate goals set by the Paris agreement designed to limit global warming to 1.5 degrees Celsius, but few large-scale projects exist.

INEOS said it will explore options for emissions from its Grangemouth petrochemicals plant and oil refinery, with Petroineos, its joint venture with Petrochina which runs the refinery, also part of the deal.

"The carbon capture and storage system will provide an essential route to permanently and safely capture and store CO2 emissions for large industrial emitters throughout Scotland," INEOS Grangemouth Chairman Andrew Gardner said.

The Acorn project is being developed by Storegga with partners including Shell and Harbour Energy and is seeking to store CO2 under the North Sea.

INEOS also said this month it would buy shares worth 25 million pounds to become a cornerstone investor in clean hydrogen company HydrogenOne Capital Growth when it lists on the London Stock Exchange. 

(Reporting by Susanna Twidale; Editing by Alexander Smith)


Categories: Energy Industry News Activity Decarbonization Carbon Capture CCS

Related Stories

Ultra-Deepwater FPSO Starts Oil Production Offshore Brazil

BP’s Profit Drops 30% to Almost Four-Year Low

Venterra Acquires Subsea Energy Services Provider Oceanscan

Current News

ASL to Work on Metocean Data for Offshore Wind Project in Atlantic Canada

RWE Gets Clearance for 100MW Electrolyzer for OW-to-Hydrogen Production

DOF Group Completes Acquisition of Maersk Supply Service

Tyra II Facilities to Operate at Full Technical Capacity Sooner Than Expected

Subscribe for OE Digital E‑News