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Energy Transition Now - Episode 38 with Martin Currie

The third of our CCUS mini-series continues its focus on the United Kingdom through the lens of the energy company ENI. David Linden spoke with Martin Currie, Energy Transition Manager, ENI UK, on the importance of CCUS in ENI’s and the economy’s transition, the strength of the UK approach to developing CCUS, and the role that ENI is playing in the sector – both as an operator and developer of transportation and storage of CO₂ as well as an orchestrator of CCUS projects.  

Martin Currie Headshot

Mr. Currie has over 35 years’ experience in the oil and gas industry with background in Reservoir Engineering and Technical Management. Since 2018, he has focused on business development for CCUS in the UK, leading Eni’s efforts to deploy CCUS in the UK.

Since joining Eni in 1996, he experienced various global roles, Asset Manager in Angola, Technical Manager in Nigeria, Deputy Petroleum Manager in Egypt and Reservoir Manager in Eni UK.

Prior to joining the company, he worked at British Gas as Petroleum/Reservoir Engineer.

David Linden [00:00:00] Hello, everyone. You’re listening to Energy Transition Now. I’m your host, David Linden, the Head of Energy Transition for the Westwood Global Energy Group. Following on from our last episode with the CCSA, today we continue our focus on the United Kingdom through the lens of the energy company ENI, or E-N-I. It is striving for carbon neutrality by 2050, which includes it offering services, products and solutions that are increasingly sustainable, which includes leveraging CCUS technology. I have personally found its role in some may say, leadership even, in the space in the UK, fascinating. I’m so I’m really pleased to have Martin Currie, the Energy Transition Manager for Eni UK, as my guest today. Welcome, Martin, to Energy Transition Now.

Martin Currie [00:00:54] Thanks very much, David. Pleased to be with you.

David Linden [00:00:57] Now I’m not too sure who has heard of your good self Martin or not, but it would always be wise to start off with a few words, maybe from yourself. Just introducing us, introducing you, excuse me, to our audience.

Martin Currie [00:01:10] Sure. So, my, you’ve mentioned my title energy transition manager. Really, what I’ve been doing on a day to day basis over the last five years here in the UK is to develop our CCS business within the UK and of late to specifically engage with the UK authorities to get us to a finalised point in our, project, one of our projects is more advanced. We’ll go on to talk about that HyNet North west, CCS project. But there’s a lot of agreements to be made with the government. And really that’s where my, my focus has been.

David Linden [00:01:51] Thank you for that. So let’s maybe take a step back. First of all, just so people understand a little bit more about ENI’s CCS business as a whole and how it fits in with ENI as a company. Can you maybe just start off by explaining how, well how does CSS itself fit in with ENI strategy?

Martin Currie [00:02:08] Well, it’s become a very important part of our decarbonisation strategy. We’ve got decarbonisation targets that involve all our business lines, that are designed to provide economically feasible solutions and utilise innovative technologies with an aim to decarbonise the entire company. And to this end, we’re investing in researching, developing and implementing transition technologies. Our approach is really to help solve what the World Energy Council refers to is the energy trilemma. This simultaneous striving to ensure environmental sustainability, supply, security of energy and energy affordability. And our decarbonisation strategy defined specific medium to long term emissions targets and business objectives. So this process consists of a series of intermediate targets that envisage firstly net zero emissions scope one and two from the upstream business by 2030. And from all other business lines by 2035. And we’re talking about scope one and two in that respect. And then zero net emissions, including all greenhouse gas, scope one, two and three emissions, both in absolute terms and in terms of intensity by by 2050. And we align our plans and investments to our strategy to achieve a fully decarbonise product portfolio. And CCUS is just one of the elements of our transition model. And it also includes, amongst others, energy efficiency, renewable energy sources, advanced biofuels and low carbon fuels. For CCS, for CCUS it’s a mature and safe technology from our perspective. And this plays an essential role in the decarbonisation of hard to abate sectors to which there are currently no equally effective and efficient solutions. You know, this is backed up by the opinion of major international organisations such as IEA, IPCC, the European Union and others who will consider CCS as a fundamental element for a solid and credible medium and long term decarbonisation strategy. So there are clear environmental, benefits from CCS, but also economic benefits as well, allowing the preservation of all of jobs that are currently involved with with products that don’t abate their CO2, but also the creation of new jobs, linked to the promotion of new production product chains. I think, the CSS industry will attract new businesses, new industries to develop as a consequence of the enablement of that, of that decarbonisation. And so also this new industry, this new business, this new carbon capture and storage, it’s an opportunity for ENI to develop a new business line in the decarbonisation sector, you know, an entity that can contribute to cutting our own net emissions and also provide a solution for third parties with these hard to abate emissions, even beyond the energy sector and in particular beyond the energy sector. So we feel that we’ve developed a distinctive approach based on let’s say, two key pillars. Firstly, being a an operator and developer of transportation and storage of CO2. And this is leveraging on our own, store potentials. The fact that we’ve got certain assets that we can reuse, we have, depleted gas fields located in, in fact, in the UK in very convenient locations that are proximal to these industrial clusters. But also the other pillar that we’re interested to develop is as an orchestrator of CCUS projects. Providing integrated project management, for instance, and technical capabilities that extend beyond the provision of transportation and storage. So these are the elements of how CSS really fits within our strategy.

David Linden [00:07:11] Okay. Fascinating was this there’s quite a bit in there I think Martin quite liked actually the you know but it’s rare that someone frames it initially from the energy trilemma. Right. It is, people jump straight onto the hard to abate side of things and kind of forget you, you’re kind of coming back to something which is secure, affordable, and, and environmentally beneficial or sustainable, should we call it, as well. And actually CCS can be part of that solution because as you say, it helps secure jobs. It helps to ensure that that you can have a, a clean, product at the end of it. And we’ll come on to this, let’s say with HyNet also. But there’s also, for example, clean hydrogen that you can produce as a result of this, which is also around decarbonisation and ensuring industry stay there. So I quite like that lens. And but if I just, just sort of be 100% clear in my mind, you’re essentially also then talking about, for yourself as a company. It’s essentially scope three, which is the main, benefit to you as a company, as well as the opportunity to create a new business line, which is through that distinct approach you just described.

Martin Currie [00:08:14] Yes, it’s all part of the strategy, really, but CCS is not the only part of that strategy, but it is a key pillar of reaching that reaching that ambitious, but doable goal. We’re very focused.

David Linden [00:08:31] Yes. Good. I mean, obviously if people want to spend a bit of time looking at, ENI’s website, I’d certainly, encourage you, if you look at things like hydrogen and offshore wind and all the other sectors, and biofuels, you know, as a core part of all those different industries in one way or another. So, but okay, let’s stick with CCS and let’s stick to, I think, what we wanted to have this conversation around, around the UK, and specifically you started to allude to essentially what my next question is, is around how does the UK play into all of that? Right. So you started about HyNet. You started to talk about storage sites, that are particularly convenient, in some respects, to be able to use in this space. So maybe just, you know, your role and then what you’re focused on, how does the UK kind of play into that ambition specifically then?

Martin Currie [00:09:21] We’re very we’re very fortunate that here in the UK, it’s really been a very interesting process over the last sort of five, five years or so. And it’s clear to us that the UK is, is really one of the first and most active countries to promote CCS. And this is really through the focus that they have on the UK government’s focus on, on the net zero by 2050 ambition, the decarbonisation target. And they’re taking it absolutely seriously. And that’s evidenced by the financial commitment that they’ve made the £20 billion to help the industry reach a  commercial scale. This isn’t small scale business. This is a big picture strategy that can place the country on this, this defined trajectory to store. I mean, initially, I think the target is 20 to 30 million tonnes of carbon dioxide stored annually by 2030 and creating, you know, tens of thousands of new jobs. So the commitment that the UK has in respect to CCS is quite clear and evident. So working in that environment is perfect really for me personally and for the company as a whole. It’s this sort of combination, of the industrial cluster concept, the geographical context, the location of these clusters and really the methodical approach that’s been taken by the UK government in defining what, what I believe is appropriate business models for CCS. I mean, there’s a lot of debate, some differences of opinions, but, how do we get things started at scale? How do we go to scale in the trajectory that is really required. And so I think what the UK government has done is really important in that context, getting a vehicle and it’s really beneficial to ENI as a whole seeing what’s being achieved in the UK, seeing what can be achieved, because that’s a lot of lessons learnt, not just technical lessons but but commercial business lessons, regulatory lessons that can be learned, that we can help to share more widely, you know, in our global portfolio. So UK is a really important location for us in our CCS ambitions.

David Linden [00:12:13] And I like the way you describe things that are around almost setting a standard or an example that some people may or may wish to choose to replicate. I mean, the US has done things differently and other countries have done things differently, and other companies have done things differently. But we’ve seen markets elsewhere open up with a recognition of certainly some elements of what the UK’s done. That’s going to be important. It’s it’s an element of, you know, regulation. And so carrots and sticks or similar, whichever phrase you want to use. And it seems like the UK has in the past got some criticism, but clearly there’s, a lot of benefits to its approach, which is encouraging more companies like yourselves to, to make the plunge and invest, which is important.

Martin Currie [00:12:55] Yeah. We we need to get started within, within, an environment that is that is understandable and predictable. I think for the transportation storage business, the aspect of the risk allocation within the business models has been is, is appropriate and it can be different, for sure. But it’s appropriate predictable, and it’s something that will attract not only our own company sort of equity funding but others and and it will give confidence to lenders as well.

David Linden [00:13:27] And that which is important.

Martin Currie [00:13:29] Absolutely.

David Linden [00:13:31] Yeah. Okay. What are you working on right now?

Martin Currie [00:13:34] Right. I mean, we’ve got two specific projects. One which I think a lot of people know about. And that’s the Liverpool Bay CSS development. That’s what we call it internally, more widely known as part of the HyNet North West Cluster. And that’s on the west coast of the country, addressing decarbonisation in North West UK, North Wales, North West England, leveraging on the depleted gas fields in Liverpool Bay. And we as a company we’ve  got experience extensive experience in storing gas in depleted fields over many decades. This experience combined with with the use of offshore assets that we have owned for and operated as, as hydrocarbon assets for many years, essentially means that we’re very familiar. We have a good data sets, we have good confidence about the ability to contain not only hydrocarbons, but actually to contain injected CO2 following the depletion of those hydrocarbons. This is one project that we will talk about, I think, in a little bit more detail later on. And, our other project that we’re spearheading is the is one on the other side of the country, the what we term as the the Bacton Thames Net Zero project, which, is utilising the depleted Hewett field as a storage potential storage hub. And we, we like to sort of refer to these, these storage sites as storage hubs. We’re willing to collect in CO2 from wherever it’s economically viable to collect it into. So this is, these are the two main project opportunities. There are in addition to that, as a consequence of the company’s expansion, other CCS projects emerging. So we’re in expansion mode effectively within the UK.

David Linden [00:15:43] Perfect. So more investment to come in the future. But okay. For for now let’s talk about maybe HyNet and Bacton as the two examples I think that’s very interesting to talk about. As you say, the kind of HyNet is the if not one of the two at least, key leading projects in the UK at the moment. Certainly in terms of progress, on where we expect things to go and therefore has done the many firsts and set examples of as to how things may or may not work out. Can you maybe just provide a bit more insight to people on HyNet? You’ve used various different names there, right, so there’s Liverpool Bay, there’s the HyNet area, then you’ve got all the different parts that you, you know, you specifically involved in T&S etc. the sort transport and storage, side of things. So maybe if you just break it down a little bit for people who are less familiar with that because they hear different things and then quite understand who’s doing what. How do you fit in? How do you operate with others, maybe. And just explain that a little bit to people before we dig into a few more details.

Martin Currie [00:16:46] No, that’s great because there is always, I think, a lot of confusion in the detail. But we can start with the big picture. And the big picture is the word HyNet I guess, which that that word was evolved many years ago by interested parties even before ENI became involved. And essentially it was a, you know, as the, as the sort of name suggests, HyNet hydrogen network. But we’ve, our business though from, from the ENI perspective, is not specifically related to hydrogen. It’s related to the development of and operation of infrastructure necessary to transport and store carbon dioxide emissions. And that’s an important differentiator. Hydrogen can be and will be produced, low carbon hydrogen will be one of our customers, because in order to produce hydrogen through a certain process, CO2 is released as a consequence of that and the capture of that CO2 and the transportation of that CO2 through our infrastructure enables the production of that low carbon hydrogen that can then be utilised  by various, interested industrial users interested in fuel switching, for instance, from gas to hydrogen. But it’s really not the fundamental of our project at all. The fundamental of our project is to supply infrastructure that assists any company who has captured their carbon, their emissions, to find a home for it. A permanent safe sequestration of that carbon dioxide. And what we do is to provide that infrastructure to transport and to store that CO2 within Liverpool Bay, our depleted gas fields in Liverpool Bay. So that’s our primary role. Our additional role is to be leader of, let’s say, the cluster, to work with our potential customers to facilitate and orchestrate, if you like, the full chain. Now these customers have their own responsibility at the moment in terms of the capture side of their project. But this interlinking between the capture and then the transportation storage. Fundamentally it has to be this is part of the overall full chain of the decarbonisation proposition. And to that effect, there’s a lot of parties involved. You know, we have got as ENI / Liverpool Bay, we’ve got over 20 memorandum of understanding with potential entities who are interested in for us to take their CO2 for permanent storage. But in addition to that, there is an equal number of of of parties also in the future who also might be interested to, take hydrogen, that can be enabled through our transportation and storage system. So the HyNet North West is an industrial cluster effectively. And we’re the operator of this storage, transportation and storage system. It’s big. It’s a big scale in the high net cluster. It’ll transform, you know, this part of the world in terms of because it’s very this area of say Cheshire and North Wales and moving towards towards Manchester and Liverpool is one of the most energy intensive locations in the UK. So what we’re doing there is really important. It will have a really important impact on on overall emissions from industrial emissions from this area, and it’ll be a first of its type in the world really, to the first low carbon industrial cluster. So it’s really, you know, exciting. Yeah. Sometimes I have to pinch myself will remember just how, you know, it’s I’ve been working the project for so long. Wow. It’s this is a big deal. So a little bit more about the about the detail. I’m sure, would be would be interesting. Yes. Yeah. So I’ve talked about the, the bigger picture, the actual stores themselves. There are three sites in Liverpool Bay the under hydrocarbons sort of. So the wording we call our Liverpool Bay asset three fields quite close together. They’re all depleted. They’re all in the situation now where we are beginning to decommission oil and gas facilities associated with with that past production. But there is quite a lot of infrastructure that we can actually reuse for specifically for CO2 storage. There are, for instance, pipelines, existing pipelines that we can repurpose. We’re going to make use of the offshore, three of the offshore jackets, these are the platforms, and make as much efficient economic reuse as is viable, effectively. There is considerable amount of new infrastructure that we also have to add. For instance, we will be constructing a new pipeline, a new onshore pipeline between, let’s say, the heart of the the the emitters, which is located around and about this sort of Ince area close to the Stanley, what was previously called the Stanley Refinery. A 35 kilometre pipeline from that location all the way through to our existing onshore gas pipeline, which terminates around the Connah’s Quay location on the border of North Wales, England. And then that will tie in to our existing onshore pipeline to take us up to Point of Ayr, which is the gas treatment facility on the coastline. So now all all of these reuse of infrastructure has been carefully tested for its ongoing integrity for the use of CO2. And we’re quite fortunate that the infrastructure is designed in a very robust way already.

David Linden [00:23:24] But what you’re doing is, is you’re pushing, something in reverse down that pipeline rather than the other way that it’s been before, simplifying things very much so. I guess.

Martin Currie [00:23:32] That’s right. So there’s this mixture between re-use of all the existing infrastructure and a new build. So we’re designing the initial phase of the system will be designed to handle around 4.5 million tonnes of CO2 per year. I guess people don’t really know what a, how much that is, but the overall storage capacity of the Liverpool Bay stores is around 200 million tonnes, right? So basically this we were it can easily accommodate 4.5 million tonnes per year for 25 years, for instance. That adds up to something like I can’t remember 100 and 190 million tonnes. But we don’t want to stop at 4.5 million tonnes per year. We have designed elements of the system, especially the new pipeline, system, to accommodate 10 million tonnes per year. So we envisage an expansion post 2030 to move up from this 4.5 million tonnes per year to 10 million tonnes per year. And that’s really been designed on the basis of what we’re aware of the existing demand and also the context of the overall capacity, storage capacity of the reservoirs. 4.5 million tons is a lot. And basically I can talk a little bit about, you know, to put this into context, I can talk a little bit about the potential first users of the system because the government through, let’s say, the parallel phase, not only are they going through the process of, have been through the process of awarding our company as front runner what they call track one. They’re also in parallel looking at the most efficient, most ready capture projects to be introduced into our system. And this is what they were referring to as phase two of their deployment process. And back in I think, March of last year, the government announced that it had selected five projects, two of which are related to cement production. So we’ve got Heidelberg’s Padeswood cement plant. We have a tarmac pilot scheme for cement CO2 capture. We have two energy from waste processes, one operated by Viridor in Runcorn and one operated by Encyclis, which is closer to the Ince area, and one new low carbon hydrogen production plant, which is operated by Essar Energy Transition. These are our first  five customers and these customers, if everything goes to plan and if all of these projects reach FID would contribute around about 3 million tonnes per year. So fairly quickly, this phase one of the capacity that we got will be filled up. These are some of the major emitters in the region. There are other emitters who may well be interested in the next process, which is what the government calls the track one expansion. And they’re going through process that they announced earlier on in the year. This 4.5 million tonnes is, rate, at least is going to be is going to be filled before 2030. That’s absolutely our plan and then will immediately begin to move to a higher capacity. But it’s the way that we’ve done things is in a phased way.

David Linden [00:27:21] Just so I understand, what is it that needs to now happen for an FID to actually take place? Because I think that’s what’s confusing people who think that, you know, you got your carbon storage license for this four years ago was ever it was, I think, 2020 CS004, if I can remember correctly.

Martin Currie [00:27:42] Yes, 004.

David Linden [00:27:43] Thank you. Good, at least that was in my memory. There’s some left and, you know, you’ve been working very hard to get this project going, but it feels like we’re about to be really getting a momentous kind of event, shall we call it happening in the industry, where do things do move forward. What is missing in your mind for that to happen?

Martin Currie [00:28:06] We are going to get a momentous event. And it’s not that things are missing, it’s about just ensuring that they are all put in the right place at the right time FIDs have to happen pretty much at the same time. Because, yes, there has to be certain conditions, precedent for sure. The government and ourselves, we need to ensure that all of the permitting is in place. And in that respect, we had a pretty major milestone in March last month or so, when we were granted a development consent order, which is the main sort of planning and permitting vehicle for the construction of the onshore pipeline, that new section of onshore pipeline that I mentioned. So that was a key thing that a key condition precedent that to happen. But there are there are others such as you talked about the you’ve had a storage licence for the last four years. That’s a licence to appraise. It’s not a storage permit. And we have applied to the NSTA for a storage permit that has got all of the detail there that NSTA needs to have in order to, ensure that the project will safely contain CO2 over forever, safely. That’s a condition precedent and they will take their time to review and to ensure that everything, everything is in place. There are other financing conditions, precedent that have to be progressed. Yeah, the list is quite long even just for us. And, there’s a similar, sort of requirements on the, on the capture side that we’re not so familiar with. But all things have to have to happen pretty much together. So yeah, it’s exciting, momentous. The demand for this type of service, whether it’s talking about our own particular project on HyNet or or elsewhere in the UK, is really, really high. And so keeping this momentum going is really important.

David Linden [00:30:23] Well, yeah. Thanks for taking us through that. I wonder whether I think if you want to say anything else about HyNet specifically, but whether we maybe should be moving on to just the Bacton side of things as well. I’d like to just sort of talk about that a little bit as well. You know, a less well progressed. Well, maybe unfair to say that, but less mature opportunity than you’ve taken the HyNet opportunity forward so far. Can you maybe just talk us a little bit about what’s that? Is that like HyNet mark 2, just in a different part of the UK or is it in fact something completely different that we’re talking about?

Martin Currie [00:31:00] It has some similarities in that we are reusing a depleted gas field. And this is Hewett we’re talking about, and we obtained our second carbon dioxide storage appraisal licence last year. And so that’s enabled us to go forward on that particular project. And it is less mature than the Liverpool Bay project. And it is also different in that it is not quite on the back door of a big industrial cluster. I mean, it’s Hewett, located offshore Bacton, just 25km away, which is one of, is the closest store from the coast of East Anglia. So it’s very accessible. Good value for money in our view, in terms of a potential carbon storage location. Norfolk is in the heart of agricultural sort of land, it doesn’t have big cities and industrial hinterland close to it in the same way that you do in around the Liverpool, Manchester area or Humberside or Teesside.

David Linden [00:32:11] So just very briefly, sorry, just for people who don’t know the geography, the UK. Right. You’re sort of looking at kind of London in one area. And if you then go north and slightly east of that but not too far, you get to an area which I believe, a part of the world doesn’t have any motorways. I think it’s the only county or the only region. Excuse me, doesn’t have a motorway in it. It is far more remote.

Martin Currie [00:32:34] It’s a beautiful place.

David Linden [00:32:35] It is a beautiful part of the world. And so when you know, I think well, Norwich I think is probably the biggest town. Yeah. I would say.

Martin Currie [00:32:41] I was there yesterday.

David Linden [00:32:42] Yes. There you go. So perfect. And so yeah. So it is a bit more remote, but it is also where there’s a lot of infrastructure, such as the Bacton Terminal that connects to the southern North Sea, other parts of the UK back onshore.

Martin Currie [00:32:58] Yeah. It’s that the fact Bacton is a gas terminal is pretty, pretty important. So it receives a lot of a lot of gas. Therefore it is connected with potential future gas, CO2 storage sites. And the potential of the southern North Sea is substantive for carbon storage. It’s not just our Hewett field, there are other fields. There are many licences that have been awarded recently by the NSTA in that particular area. And so it’s got great potential for longer term large scale CO2 storage. You mentioned London. It is as proximal to London as you can get for carbon storage location. And London is a big site of of emissions. Not all of them are necessarily industrial. But in the Thames Estuary area in particular, there are a large number of big scale emitters, big power stations, energy from waste companies that operate there are looking for decarbonisation solutions. And Bacton and is, you know my view ideally located in and close and can address that next phase of area of the UK for decarbonisation. Not only that, because of the scale of potential storage capacity in that area and the existing connection from Bacton to continental Europe, there is a gas interconnector pipeline running between those two locations. It makes that area very interesting, not only for UK storage of UK emissions, but also storage of European emission.

David Linden [00:34:50] Okay, so that’s that’s very interesting. And I was going to ask you about the future. And then maybe you sort of partly answered it there. And that’s helpful because what you have got though specifically as a company is, you know, you mentioned the, you know, series of companies have gone in and got a license in a recent licensing round. So the UK held a licensing round very recently. Well, the first one in fact carbon storage licensing round. So your previous licenses you would have gotten would be in what we call out of round. So you would have applied directly and you would have got it, and had certain conditions attached to it. But this was then a licensing round where people essentially were, we’ll call it bidding in essentially to have a license to start or whatever it might be, the appraisal process to figure out whether this is an appropriate storage site or not. You obviously you mentioned the Hewett field had a license attached to that one. That’s depleted gas field that you won. I think that’s CS008. I did write that one down so I didn’t have to remember that one. Specifically. Well at one stage you sort of say we don’t quite know what the future is. At the same time, you’ve got a license where there are essentially some commitments attached to it to spend some time and effort to figure things out. So it’s not just a coordinator. You’re actually investing some real time and effort and potentially some money in this sort of, opportunity. So can you maybe just talk through a little bit about what that looks like for someone like yourself? It’s not just a it’s not a website and a, you know, we’re talking to each other with your partners, which I think is a really good thing, but there’s actually some real commitment that you’re putting forward.

Martin Currie [00:36:27] I think, I think companies like ours do have to take risk. It’s always better if the certainty exacts certainty. But what is certain to us is the trajectory. What is certain to us is the environment that we’re working in. What’s certain to us is what we can offer. And there are obligations. If you want to be successful, you have to do things properly. And that’s the commitments that we’ve given within the the appraisal license that you referred to. We’ve already shot high resolution seismic, and we did that really quickly after license award. And we have other commitments that we all adhere to. If you want to be a leader and ENI is a leader and wants to be maintain a leader in this, in this sector, you have to commit. And we would like to be part of the solution. We would like to contribute to the solution and be active in the discussions that need to take place and play our role from industry side to assist government and authorities in progressing things in a way that it can work, that it can work for us, and that ultimately would be, you know, commercially viable for us such that we can maintain maintain our investments. So it’s not an easy game. It’s a challenging game, but something that we are we’re really committed to.

David Linden [00:37:55] Absolutely, certainly CCS has been tried to be sort of developed in the past. It hasn’t always worked. I mean that from my technical perspective on talking about a policy, regulatory, commercial perspective and this time, that’s why we’re talking about the FID and being an exciting moment is because actually, you know, it’s it is working right now as a concept. And yet but there’s more work to do.

Martin Currie [00:38:21] This point’s really important, David, because it’s all about confidence. Come back to the to sector confidence. And sector confidence is driven by success. Here we’re in a different environment. We’re in a net zero environment. And that’s the big difference I think for us the the future is quite clear. And I think the same motivations are not only in the UK but in the countries of the EU where we also operate. And so everything is aligning now in a much better way.

David Linden [00:38:56] Thank you for taking the time, Martin, to walk us through all that and sharing your thoughts really is, it’s a very interesting subject and it’s really great what ENI are doing. So appreciate you sharing a little bit more on that with us today.

Martin Currie [00:39:09] Thanks, David. It’s my pleasure.

David Linden [00:39:11] Perfect. And thanks everyone else for listening. Hope you enjoyed it. Please subscribe to our podcast. Give us a good rating and share with your friends. Talk to you next time. Thanks.



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