Today, industry experts urged the UK Government to commit to a clear, deliverable and ambitious deployment pathway for CCUS this year, in order to capitalise on the country’s potential to lead the way in delivering this crucial technology at scale.
MPs from the Business Energy and Industrial Strategy (BEIS) Select Committee were told that failure to act now could sacrifice a prime opportunity for the UK economy and would make it near impossible for the country to hit its existing climate targets.
The UK has one third of Europe’s carbon dioxide storage capacity, and as much as the rest of the EU combined – creating a potentially significant market opportunity to ‘sell’ storage space. It also has the considerable assets, infrastructure and skills needed to become Europe’s leader in developing the technology.
Deployment of CCUS would also benefit important regional economies, preserving and creating jobs in our industrial heartlands. Five areas have been identified as being particularly suited to becoming CCUS clusters; Teesside, Yorkshire & the Humber, the North West, Scotland & South Wales.
The Government is due to publish its CCUS Deployment Pathway imminently, possibly within weeks. In order for the UK’s potential to be realised, industry has called on the Government to commit to developing at least two regional CCUS clusters as recommended by the CCUS Cost Challenge Taskforce.
Luke Warren, CEO of the Carbon Capture and Storage Association, said, “Despite an impressive reduction in our power sector emissions over the past decade, the UK stands at a climate change crossroads. In order to have any hope of meeting our existing climate change targets, we need to drive deeper decarbonisation in heating, transport and heavy industry.”
“CCUS, and its suite of enabling technologies, can decarbonise these harder to reach sectors, whilst at the same time ensuring our industrial heartlands remain competitive for decades to come.”
“The UK wind industry is a perfect example of what can be achieved with commitment, a strong supportive framework and collaboration between industry and Government. If the Government now does its bit by committing to develop at least two regional CCUS clusters, this industry could become another success story, positioning the UK as a leader in a significant global market.”