The lease which Crown Estate has awarded a lease to bp, who will be the lead operator on the project, in order to help the company progress with their Endurance CCS project which has the potential to become one of the largest carbon capture and storage projects in the world.
Bp’s Endurance Project, a reservoir which has been created in the rock deep below the North Sea, would be used to store hard-to-abate carbon emissions, captured from carbon-intensive heavy industry in Teesside and Humberside. The benefits of this project are excellent, with the scale meaning it has the potential to decarbonise the UK’s industrial site emissions, which will result in the UK Government ambitions to capture and store 20-30 MtCo2 every year by 2030, receiving significant support.
This announcement is a serious advancement not only for bp but also for the progress of CCS technology. This technology has been called a ‘necessity not an option’ by the Climate Change Committee, especially with the UK’s aim to reach its net zero by 2050 target. The technology also comes with multiple other benefits, including supporting jobs and communities, pushing forwards the nation’s energy security and finally, pushing forward the nation’s net zero ambitions.
The Managing Director of Marine at The Crown Estate Gus Jaspert, said, “Supporting the development of CCS is a key priority for The Crown Estate, and we are delighted that the Endurance store is now a step closer to delivering on its enormous potential for contributing to net zero and delivering new jobs and thriving communities in one of the UKs industrial heartlands. The Crown Estate is firmly focussed on maximising the potential of the seabed in support of net zero and energy security. This project promises to be a significant contributor to both, alongside our vital work to accelerate our world-class offshore wind industry and to support the growth of emerging renewable technologies. We will continue to work to bring future CCS opportunities to the market, including the development of our own CCS leasing process, ensuring these projects can be undertaken successfully alongside the range of other seabed activities that the UK relies upon.”
The Crown Estate is a manger of the seabed around England, Wales and Northern Ireland, and has stated that they encourage and support the growth of technologies such as CCS, offshore wind and hydrogen in an interconnected way. These technologies are used by a wide range of industries, experts, data and digital mapping capabilities, and Crown Estate aims to ensure that the varied, growing and often competing demands on a busy sea bed are co-ordinated for net zero, energy security and nature recovery benefits.