The UK's first licensing round to develop CO2 storage facilities attracted 26 bids from 19 companies, upstream regulator the North Sea Transition Authority (NSTA) said today.
The round, which was launched in June, offered 13 potential storage areas off the coasts of Aberdeen, Teesside, Liverpool and Lincolnshire. The sites will contribute to the UK's target to store 20mn-30mn t/yr of CO2 by 2030, the NSTA said. The UK could require up to 100 carbon capture and storage (CCS) sites to meet its pledge to reach net zero emissions by 2050, it added.
CCS technology involves capturing CO2 emissions from power generation, burning or industrial processes and storing it underground. The NSTA aims to award licences from the first round in early 2023, with the first CO2 injection expected within 4-6 years.
