Scottish Enterprise welcomes Peterhead CCS announcement
Scottish Enterprise has welcomed announcement today that the Peterhead CCS Project has signed an agreement with the UK Government for a front-end engineering and design (FEED) study.
Welcoming the announcement Chris Bryceland of Scottish Enterprise said:
“This development is a significant step forward in developing Peterhead’s capabilities as a key location for the shipment of captured CO2 from the UK and Europe.
“In fact it’s estimated that a Central North Sea Storage Hub has the potential receive and store as much as 100 million tonnes of C02 a year by 2030 and 500 million tonnes a year by 2050. In addition, by combining the storage of carbon and using it for enhanced oil recovery in some of Scotland’s key oil fields could generate up to an additional £2.7bn GVA for the economy.”