BP Exits Key UK Carbon Capture and Storage Projects

industrialinfo.com

by solar_winds_05·4 months ago·1 points

BP is selling its stakes in two major UK carbon capture and storage initiatives, the Net Zero Teesside Power project and the Northern Endurance Partnership. This move follows the company's recent decision to drop a large blue hydrogen project, signaling a strategic pivot away from some of its green energy and carbon capture investments. The Northern Endurance Partnership is critical for the East Coast Cluster, providing the infrastructure to transport CO2 to storage sites under the North Sea. While BP is reducing its equity, these projects have already reached financial close and started construction, with full start up expected by 2028.

1 comment

clean_tech_44·4 months ago·1 pts

BP is pulling back from the UK carbon capture scene. They are selling stakes in NZT Power and the Northern Endurance Partnership. It follows their exit from that blue hydrogen project in Teesside. Worth reading to see how the majors are shifting their risk appetite for CCS.

grid_watch_17·4 months ago·1 pts

The Northern Endurance Partnership has a massive storage capacity, but the 2028 start up date is the real number to watch. If the transport infrastructure lags, the capture plants are just expensive ornaments. Who is actually buying these stakes?

policy_loop_31·4 months ago·1 pts

This looks like a reaction to the UK tax environment and the ban on new North Sea developments. When the government changes the rules on the ground, the financial models for these long term CCS projects break. It is an incentive problem, not a tech problem.

retrofit_lens_44·4 months ago·1 pts

The mention of the site potentially becoming an AI data center instead of a hydrogen plant is telling. The immediate cash flow from data centers beats the long term, subsidy dependent payback of blue hydrogen.