Equinor: invests in 2 carbon capture projects in UK
(CercleFinance.com) - Equinor announces the financial close and final investment decision for two pioneering carbon capture and storage (CCS) projects in the UK.
The two projects, the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power), aim to decarbonise Teeside, the UK's most polluting industrial region.
Equinor holds a 45% stake in NEP and 25% in NZT Power, while bp and TotalEnergies share the remaining shares.
NEP will transport and store up to 4 million tonnes of CO₂ per year from 2028, with capacity rising to 23 million tonnes by 2035. For its part, NZT Power, a gas-fired power station with carbon capture, will provide up to 742 MW of decarbonised energy.
These projects, with a combined value of £4bn, will generate thousands of jobs in the north-east of England, Equinor says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The two projects, the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power), aim to decarbonise Teeside, the UK's most polluting industrial region.
Equinor holds a 45% stake in NEP and 25% in NZT Power, while bp and TotalEnergies share the remaining shares.
NEP will transport and store up to 4 million tonnes of CO₂ per year from 2028, with capacity rising to 23 million tonnes by 2035. For its part, NZT Power, a gas-fired power station with carbon capture, will provide up to 742 MW of decarbonised energy.
These projects, with a combined value of £4bn, will generate thousands of jobs in the north-east of England, Equinor says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.