Prime Minister Rishi Sunak Wants to Invest Millions in North Sea CO2 Storage

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British Prime Minister Rishi Sunak plans to provide millions of pounds in grants to a project to store CO2 in the North Sea. The Sunday Times newspaper reports this.

 

Sunak was due to go to the east of Scotland on Monday to explain his plans for financing the CO2 project.

The Acorn project uses existing gas pipelines to store CO2 in the seabed. For example, greenhouse gas is created by producing oil and gas in the North Sea and originates from the Scottish industry. A factory must also be where CO2 will be converted into hydrogen from 2025. Shell, among others, is one of the investors in Acorn.

At the same time, Sunak told the Sunday Telegraph that he also supports plans for new oil and gas projects in the North Sea. The UK government is expected to approve further development of the Rosebank oil and gas field near the Shetland Islands and other projects. According to Sunak, this is important to secure the UK’s energy supply and for employment in the energy sector.

Environmental groups are outraged that the government wants to continue with new fossil projects. They argue Sunak is not very convincing regarding climate change and reducing emissions. The opposition Labor party said it would not issue new drilling licenses if it came to power in the UK.

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