United Kingdom – UK Energy Secretary has laid out a visionary plan named the CCUS Vision, aiming to position the UK as a global hub for Carbon Capture, Usage, and Storage (CCUS) by 2035.
The comprehensive plan outlines the transition from government-supported early projects to a competitive market, projecting a boost of £5 billion annually to the economy by 2050.
The primary goal of the CCUS Vision is to propel the UK into the forefront of carbon capture technologies, fostering a competitive market for CCUS services worldwide by 2035. This strategic move aligns with the UK’s commitment to becoming a net-zero nation while ensuring economic growth and job creation, marking a pivotal milestone in the journey towards a sustainable future.
Green transition
Carbon capture, a process that captures carbon dioxide before it reaches the atmosphere, will play a pivotal role in the UK’s green transition. The country leverages its unique geology, skills, and infrastructure, particularly as an island nation, to store captured carbon safely underground. With the potential to store up to 78 billion tonnes of CO2 beneath the North Sea, the UK holds a strategic advantage over other nations in the pursuit of carbon capture technology.
The economic impact of the CCUS Vision is substantial, with an expected annual boost of £5 billion to the UK economy by 2050. This ambitious plan not only positions the UK as a pioneer in carbon capture technology but also ensures a reasonable and economically viable approach to meeting net-zero commitments without imposing a heavy burden on taxpayers.
Positive reception
Industry leaders and associations have responded positively to the CCUS Vision. Ruth Herbert, CEO of the Carbon Capture and Storage Association, expressed enthusiasm for the long-term strategy, emphasizing the potential to store over 50 million tonnes of CO2 annually by 2035. The vision also enables CO2 transport by various means from 2025 onwards, fostering cross-border transport solutions.
