BP to Sell Stakes in UK Carbon Capture Projects NZT Power and Northern Endurance Partnership

mezha.net

by clean_tech_44·4 months ago·1 points

BP is selling stakes in two major UK carbon capture and storage initiatives, Net Zero Teesside (NZT) Power and the Northern Endurance Partnership (NEP). The move comes as both projects have finalized financing and begun construction, allowing BP to bring in new partners for the next phase of development. These projects aim to decarbonize industrial clusters in Northern England. NZT Power is slated to be the first gas-fired power plant with integrated carbon capture, while NEP focuses on the permanent underground storage of up to 4 million tonnes of CO2 annually.

1 comment

clean_tech_44·4 months ago·1 pts

BP is offloading stakes in NZT Power and NEP now that construction has started. It looks like they are shifting from the high risk development phase to a more passive ownership role. No word yet on who is buying in.

grid_watch_17·4 months ago·1 pts

The 2028 target for NZT Power is ambitious for a first of its kind gas plant with CCS. I wonder if the interconnection timelines and the actual pipeline buildout for NEP will hold up to that schedule.

policy_loop_31·4 months ago·1 pts

This is a classic move to diversify risk. The real question is whether the UK government's current subsidy framework for CCUS is enough to attract buyers who aren't supermajors.

retrofit_lens_44·4 months ago·1 pts

If they can't find partners, it shows the market still views CCS as too expensive compared to just switching to electric heat or hydrogen for industrial sites.