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Co2 Storage Lease Agreement

Co2 Storage Lease Agreement
Ditambahkan pada : April 8th, 2021
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Crown Estate Scotland, which is responsible for leasing renewable energy and CO2 storage rights up to 200 nautical miles from the coast, has announced that it has signed its first leasing option for offshore carbon dioxide (CO2) storage. The conclusion of this lease with National Grid is an exciting step for the young industry. Much remains to be done to advance CCS and, in particular, transport and storage infrastructure. We look forward to working with successful developers in competition for UK government marketing financing to begin making this infrastructure available. The national network storage project is linked to the development of transport and storage infrastructure for emitters in the Humber region and is co-financed by the European Energy Recovery Programme (PEER) award. This agreement applies with National Grid to a beach water conductor at sea located primarily in oil licensing units 42/25 and 43/21 approximately 70 miles from the east coast of Yorkshire. The broader agreement on the leased area intersects parts of the oil licence units 42/19, 42/20, 42/24, 42/29, 42/30, 43/16, 43/21, 43/22, 43/26 and 43/27. Today we can announce the signing of a lease agreement for the permanent geological storage of carbon dioxide. Acorn CSC is an important opportunity to manage the very large amounts of future CO2 emissions in the UK and Scotland, which is why this important award has been welcomed by all entities involved in granting the leasing option. Acorn CCS is very proud to be the first beneficiary of a co2 storage leasing option for the Acorn CO2 storage site, located about 100 km from the coast and about 2 km below the central North Sea seabed, within the Captain Sand Formation.

Carbon dioxide (CO2) sequestration for permanent storage or its use in increased oil recovery (EOR) may be relatively new in some parts of the country, but will become more common over time. This collection of forms can be used for both sequestration and EOR operations. In early 2012, we put in place a procedure for project proponents to apply for agreements for the rental of potential storage sites. We own storage rights on the UK continental shelf and leasing agreements offer time-limited exclusive options that allow developers to participate in public assistance competitions and advance their CO2 capture and storage (CCS) projects until the investment decision. To date, we have received several requests for options through websites, which have been the subject of public notices. Alan James, Managing Director of Pale Blue Dot Energy and Acorn CCS Project Leader, said: “The safeguarding of this leasing option by Crown Estate Scotland is an important step in helping us develop one of the UK`s first CO2 transport and storage networks. Acorn CCS allows the UK to use former oil and gas facilities to gain environmental benefits and unlock CO2 transport and storage solutions for other DECO (CCUS) projects along the east coast of the UK. Please note that if you switch to another device, you may be asked to re-connect with your ACS ID. Acorn is an important catalyst for clean growth in the north-east of the UK and beyond.

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