Published following the UK’s first carbon storage licence round in 2023, this report analysed the outcome of the licensing awards announced by the NSTA on 15 September 2023, when 14 companies accepted 21 awarded licences. The results of the round saw both the expansion of existing carbon storage projects and the addition of several new projects.
Westwood’s analysis indicated that, if all projects achieved their proposed timelines and secured a source of CO₂ for injection, the UK could achieve its 2030 and 2035 carbon storage targets. However, the report noted that not every project was expected to progress to a Storage Permit application, with some projects likely to be delayed and others potentially under-delivering.
Westwood’s analytical report provided a comprehensive review of the licence awards and explored some of the key risks and challenges facing the carbon storage industry.
- The UK’s 1st Carbon Storage Licensing Round Awards
- Company Awards
- Licence Commitments
- Westwood Comment
- APPENDIX 1: Company / Licence Highlights
- Eni: CS008
- Perenco and Carbon Catalyst: CS009, CS017 & CS018
- Spirit Energy: CS010
- Storegga, Shell & Harbour Energy: CS011 & CS012
- EnQuest: CS013, CS014, CS015 & CS016
- Synergia Energy & Wintershall Dea: CS019
- Neptune Energy: CS020 & CS022
- Neptune Energy & ExxonMobil: CS021
- Harbour Energy & BP: CS023 & CS024
- BP & Equinor: CS025
- Shell & ExxonMobil: CS026, CS027, CS028
- APPENDIX 2: The UK’s CCS Industry
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