Harbour Energy and BP Pair Up to Deliver UK's Viking Carbon Capture Project
11 Abril 2023 - 03:48AM
Dow Jones News
By Joe Hoppe
Harbour Energy PLC said Tuesday that it has agreed to develop
the Viking carbon capture and storage project at Humber, England,
together with BP PLC.
The U.K. oil-and-gas company said it will continue as operator
of Viking with a 60% interest, while BP will acquire a 40%
non-operated share. The project has the potential to meet a third
of the U.K. government's target to capture and store up to 30
million tons of carbon dioxide by 2030, Harbour said.
A final investment decision is expected in 2024. The project
could be operational by 2027 and potentially storing up to 10
million tons of carbon dioxide by 2030.
The Viking CCS pipeline is a 55-kilometer pipeline planned to
transport carbon dioxide from Immingham to the former Theddlethorpe
gas terminal. From there, it will join an existing offshore
pipeline to the Viking area in the North Sea, where the carbon
dioxide will be injected into depleted gas reservoirs beneath the
seabed.
Harbour said the project could be transformational for the area,
potential unlocking up to 7 billion pounds ($8.67 billion) of
investment over the full carbon-dioxide value chain over the next
decade.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
April 11, 2023 02:33 ET (06:33 GMT)
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