A partnership between three leading UK authorities aims to help meet the UK reach its carbon storage targets of 20-30 million tonnes of carbon dioxide (CO2) emissions per year by 2030, and over 50 million tonnes by 2035.
The North Sea Transition Authority (NSTA), The Crown Estate (TCE) and Crown Estate Scotland (CES) are working together to unlock the full potential of the UK Continental Shelf (UKCS) as a carbon storage resource.
Alongside with the UK government, the trio is focusing on the identification of areas of the seabed that may be suitable for carbon storage.
Announced in April, the NSTA will aid the development of carbon capture and storage (CCS) by keeping the window open for nominations for new areas for potential carbon storage until 13th May 2022.
The organisation has said that all nominations received in this current window and existing licence applications to the NSTA, and lease applications to TCE or CES from developers, will continue to be reviewed, with the outcome of these processes announced by each organisation in ‘due course’.
The potential for future leasing and licensing rounds for offshore areas will also be explored.
For the opportunity to develop carbon storage opportunities, developers must apply for a carbon storage license and a storage agreement for lease.