Member

Finally, clause 18 and schedule 3 relate to the decommissioning of oil and gas assets that are repurposed for use in carbon storage installations and pipelines. Carbon capture, usage and storage, or CCUS, is likely to play an essential role in meeting our net zero targets. The UK’s estimated 78 billion tonnes of CO₂ storage capacity presents an opportunity for us to become a global leader in the provision of CO₂ services and storage. The potential to make use of assets from the UK’s oil and gas sector is an opportunity that will present cost savings and quicker delivery times for certain CCUS projects.