Eni: agreement in principle with the UK's DESNZ
(CercleFinance.com) - Eni announces that it has reached an agreement in principle on the economic, regulatory and governance model for the transport and storage of carbon dioxide within the HyNet North West industrial carbon capture and storage (CCS) cluster.
The agreement has been reached with the UK government's Department for Energy Security and Carbon Neutrality (DESNZ).
The agreement is an big step towards HyNet North West becoming fully operational as the first regulated asset-based CCS project, providing carbon transport and storage services to businesses in the North West of England and North Wales.
Eni believes that CCS could play a crucial role in the energy transition strategy and become a significant business for the company.
The company plans to create a second CCS hub in the UK to decarbonise the Bacton Energy Hub and the Thames Estuary region, and has obtained a license to store carbon dioxide in the depleted Hewett gas field in the southern North Sea.
Together, HyNet North West and Bacton have the capacity to store 500 million tonnes of CO2.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The agreement has been reached with the UK government's Department for Energy Security and Carbon Neutrality (DESNZ).
The agreement is an big step towards HyNet North West becoming fully operational as the first regulated asset-based CCS project, providing carbon transport and storage services to businesses in the North West of England and North Wales.
Eni believes that CCS could play a crucial role in the energy transition strategy and become a significant business for the company.
The company plans to create a second CCS hub in the UK to decarbonise the Bacton Energy Hub and the Thames Estuary region, and has obtained a license to store carbon dioxide in the depleted Hewett gas field in the southern North Sea.
Together, HyNet North West and Bacton have the capacity to store 500 million tonnes of CO2.
Copyright (c) 2023 CercleFinance.com. All rights reserved.