The UK's offshore geology presents a "superlative national CO2 storage proposition," but the British government needs to act to avoid missing out, according to Ambrose Evans-Pritchard, writing in the Telegraph. Industrial clusters in the Tees Valley and the Humber are linked by a network of pipelines to depleted oil and gas fields in the North Sea, with similar assets for carbon storage deep underground in Liverpool and Grangemouth in Scotland. "The UK is not yet ready to take full advantage of its potential as an exporter of natural gas," says David Jones, director general at BP, which has invested heavily in developing shale gas.
The UK's offshore geology presents a "superlative national CO2 storage proposition," but the British government needs to act to avoid missing out, according to Ambrose Evans-Pritchard, writing in the Telegraph. Industrial clusters in the Tees Valley and the Humber are linked by a network of pipelines to depleted oil and gas fields in the North Sea, with similar assets for carbon storage deep underground in Liverpool and Grangemouth in Scotland. Low government borrowing costs make investing in CCS all the more attractive.