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BP and Equinor among recipients Of $28.5B UK CCUS investment



BP And Equinor Among Recipients Of $28.5B UK CCUS Investment


A groundbreaking carbon capture, utilization, and storage (CCUS) project has received the green light from the UK government. Led by energy giants BP and Equinor, the Net Zero Teesside project will be built in North East England at a cost of £4 billion (~$5.2 billion).


The project involves constructing a power station capable of generating up to 860 megawatts of low-carbon electricity, enough to power 1.3 million homes. 


Crucially, the power station will capture and store up to two million metric tons of carbon dioxide emissions annually, preventing their release into the atmosphere.


The captured CO2 will be transported via pipeline to a geological site beneath the North Sea for permanent storage. 


This innovative project is expected to create jobs, boost investment, and position the region as a global leader in clean energy.


The Net Zero Teesside project is a significant milestone in the UK’s efforts to achieve net-zero emissions, which demonstrates the government’s commitment to supporting large-scale CCUS initiatives and fostering a sustainable energy future.


Tees Valley Mayor Ben Houchen commented: “Teesside is no longer seen as an old industrial heartland in decline – we are now a global player leading the world once again and I’m delighted to deliver another promise as mayor. This is a day that we look back on as the start of a golden generation for Teesside.”


Chris Musgrave, chairman of the Teesworks industrial zone, added: “Over the past few years, we’ve been clearing the former steelworks and preparing the site for projects like this. It’s a huge step towards a greener future for us all, and I’m proud that the Teesworks site will be at the heart of it.”









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