In a recent report from Westwood Global Energy Group (Westwood), the potential for the UK to surpass its carbon capture and storage (CCS) targets is underlined, but significant risks loom due to delays, cancellations and under-deliveries.
The findings, following the UK’s inaugural Carbon Storage Licensing Round, shed light on the pivotal role of setbacks in government funding, congested licence work programmes, and challenges in securing access to carbon dioxide (CO2).
Westwood’s analysis indicates that, based on current reported project schedules, the UK is poised to exceed its upcoming carbon storage targets.
By 2030, the potential for up to seven carbon storage sites, boasting a capacity of over 45 million tonnes per annum (MTPA), doubles the lower end of the target range.
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