Lord Whitehead (Lab)

I thank noble Lords for their valuable contributions to this debate. I will briefly try to address some of the important points made. First, perhaps I ought to knock on the head the possible suggestion from my noble friend Lord Hunt that I will be marking my own homework when it comes to the review I undertook a little while ago of greenhouse gas removals. I can assure him that others in the department will be doing that, not me. Although I hope that they will take on board the things that are in the review, it is entirely up to them and not me to do so. But I reflect that that report, among other things, was very positive about the role that CCUS can play, particularly in developing our net-negative approach to net zero over the next period. As the noble Lord mentioned, we ought to think for a moment about what an enormous asset we have in the North Sea as far as CCUS is concerned. An estimated 78 billion tonnes of theoretical CO₂ storage capacity is distributed across the UK continental shelf, and that is one of the largest, if not the largest, potential CO₂ storage capacity in Europe. Therefore, the UK has the opportunity to offer cross-border CO₂ transport and storage services to neighbouring countries. We very much welcome interest from EU and EEA countries, and we are committed to exploring opportunities to overcome the regulatory barriers to cross-border CO₂ transport and storage networks alongside neighbouring countries with common interests. Noble Lords will know what progress the Norwegians have been making in this area, so there is no time to lose with making this work as well as it can. I thank the noble Earl, Lord Russell, for his questions. I appreciate the detail in his questions. In the interest of accuracy, I think it is best that I write to him, particularly in terms of the NSTA consultation. He will know that NSTA has already consulted very substantially on a number of these aspects, but it is true that some consultations are continuing. I cannot give the exact dates by which they will be concluded, but I am sure he will get a satisfactory answer when I send him a letter to that effect. The noble Baroness, Lady Bloomfield, asked about investor confidence in CCUS. This is something we are taking seriously. A lot of this should have been underpinned by what has been happening with the track one cluster investments in CCUS. Very large amounts of money have been committed over the next 25 years to making those investments work fully. Therefore, from the UK Government’s point of view and an investor point of view, both sides should be completely clear that the UK is deadly serious about this. We are prepared to make the long-term investments and have the long-term infrastructure underpinning it to make the whole enterprise as successful as it can be in terms of the emergency we have in front of us for carbon capture and storage. CCUS will complement our transition to home-grown clean energy. It will safeguard our energy security, and it will decarbonise power and industry in a way that drives growth. It is recognised as a core sector within our industrial strategy, which backs clean energy industries as a priority growth sector and is central to delivering our growth mission. I have mentioned that key to that is ensuring investor certainty in the process as it develops. I will conclude by reaffirming that these regulations are not just a technical adjustment—very technical though they appear. They are essentially a strategic enabler for the UK’s energy transition. By providing both the public information and some investor security and clarity as the regulations come forth, I think we have got the right balance in making this happen as far as these regulations are concerned. The Oil and Gas Authority (Carbon Storage and Offshore Petroleum) (Specified Periods for Disclosure of Protected Material) Regulations 2026 will unlock critical data, strengthen transparency and accelerate the development and deployment of carbon capture, usage and storage across the UK continental shelf. These regulations, as I have underlined, reflect extensive consultation and positive engagement with industry and stakeholders. They are practical, robust, future focused and designed to ensure that the UK remains at the forefront of clean energy technologies.