Dr Nick Cooper, CEO of Storegga, lead developer of Acorn, said today on the UK Government’s confirmation of the project’s Entry into Track-2 of the CCS Cluster Sequencing Process:
"We are thrilled that the Acorn Project has advanced directly into Track-2. Acorn has been progressed by the development partners as the Track-1 reserve since late 2021, and is ready to move promptly to support the decarbonisation of Scotland and the wider UK.
“Today’s news from the Prime Minister at St Fergus is a defining milestone for us, and the Scottish Cluster. Acorn will be a major contributor towards meeting the UK and Scotland’s carbon reduction targets, able to serve emitters connected by pipeline and ship.
“We thank participants for their support and look forward to working with government to deliver the multiple benefits of creating and future-proofing jobs, inward economic investment, new technology development and, crucially, decarbonisation to Scotland and the UK.”
Storegga, Shell, Harbour Energy (“Harbour”) and North Sea Midstream Partners (“NSMP”) are partners in the Acorn Project. Acorn has received match funding from the UK and Scottish Governments and has benefited from two rounds of Connecting Europe Facility (CEF) funding from the European Commission.
Entering the Track-2 process will allow Acorn to enter detailed negotiations with Government and to continue working to provide the infrastructure to support the decarbonisation of emitters across Scotland, protecting and creating jobs and ensuring tangible progress towards achieving the UK’s climate change targets.
The anchor development of the Scottish Cluster, it uses one of the UK’s most mature and best understood CO2 storage sites – the Acorn store below the UKCS North Sea, approx. 100km from St Fergus.
It will provide the transport and storage network for the Cluster, which involves collaboration by global industrial companies using innovative decarbonisation technologies to capture and permanently store CO2 emissions under the North Sea.
By repurposing existing oil and gas infrastructure, it minimises physical development work, reduces project delivery risk and cost, and ensures the best value is achieved for the public purse and private investors.
Peterhead Port provides an additional opportunity for shipped emissions – increasing domestic reach and opportunities for international emitters, such as European and other international emitters, to utilise UK storage, further reducing costs for UK emitters.
The Scottish Cluster will support economic growth and help position the UK to export low carbon products and CCUS skills and services.
Before 2030, the Cluster could include nine different UK CO2 sources, spanning a variety of high-emitting sectors including industrial sites and power generation plants. Primary early sources of CO2 include: two of the gas terminals at the St Fergus Gas Complex; SSE and Equinor’s Peterhead Carbon Capture Power Station; a hydrogen plant supplying INEOS and Petroineos sites at Grangemouth; and ExxonMobil and Shell’s facilities at Mossmorran.
For more information on Acorn, contact theacornproject@weareaspect.com
For more information on Storegga, contact storegga@dentonsglobaladvisors.com