BP has bought into a huge carbon capture and storage scheme lined up to serve the South Humber Bank and beyond.
The oil and gas giant has taken a 40 per cent stake in Harbour Energy’s Viking CCS project, in an undisclosed deal described as bringing together two of the most experienced operators in the North Sea to develop the transformational infrastructure.
Set to serve the refining and power cluster at Immingham, seaborne imports and further emitters in the Humber hinterland, Viking was described as a leading contender in the track two cluster sequencing launch late last month. BP takes a non-operating share, with the London-headquartered multinational also a lead player in the East Coast Cluster forerunner, the Humber and Tees development that had the latter element pushed on as part of the same government announcement.
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The delivery of the Viking project is described as being “transformational” for the region, potentially unlocking up to £7 billion of investment across the full CO2 capture, transport, and storage value chain over the next decade, creating more than 10,000 jobs during construction, and providing an estimated £4 billion boost to the economy of the Humber and its surrounding areas.
It will ensure energy intensive operations can advance existing operations in line with Net Zero policy and requirements, and is seen as a vital solution alongside hydrogen fuel-switching.
Linda Cook, chief executive of Harbour Energy, said: “We welcome the 海角视频 government’s recent announcement about the launch of Track Two and the addition of BP as a partner to this transformational project. Viking CCS has the potential to unlock billions of pounds of investment across the full CCS value chain and is crucial for the 海角视频 to meet its emissions reduction targets.”
Viking is targeting one third of the government’s ambition to capture 30 million tonnes of CO2 by 2030. The outcome of the cluster process could see a final investment decision next year, and first capture in 2027.
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Humber Zero is a huge focus, with Phillips 66 and VPI the key customers, while RWE is looking at a further power plant in the area. Further pipelines from power stations in Lincolnshire and Nottinghamshire are also being explored, while a planned new CO2 shipping terminal with Associated British Ports at Immingham could see customers found in other industrial pockets of the 海角视频 with no storage capability.
Harbour and BP already share an interest in the Lincolnshire Offshore Gas Gathering System, pipeline which is intended to be repurposed as part of the project.
It is described as a unique, low-cost opportunity to connect customers to the depleted Viking gas fields, which recently had their 300 million tonnes of CO2 storage capacity independently verified.
Anja Dotzenrath, executive vice president of gas and low carbon energy at BP, said: “We’re extremely excited to be joining Viking CCS, a project which can play an instrumental role in
helping to decarbonise the 海角视频 and providing CO2 transport and storage as a service to emitters across industry sectors and geographies, including as a future CO2 shipping destination.”
Louise Kingham, senior vice president for Europe and head of 海角视频 for BP, added: “Our entry into Viking CCS demonstrates BP’s commitment to backing Britain through substantial investment and helping the country achieve its net zero goals. Viking CCS could help create thousands of new local jobs and enable supply chains that support growth of CCS in the 海角视频.”
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