UK CCS project invested into by Japanese trading house:  It has been announced by the Japanese trading house Mitsui & Co Ltd that they will invest in the development of carbon capture and storage (CCS) projects in Britain.

Developing the Acorn CCS project the company has purchased a 15.4% share in Storegga Geotechnologies.

The investment is an undisclosed sum.

To reduce costs the plan is to inject and store carbon dioxide emissions in depleted North Sea oil and gas reservoirs using existing offshore pipleine infrastructure.

CCS opportunities will later be developed by partners in Europe and Asia Pacific.

“Mitsui believes providing low carbon solutions to hard-to-abate industries such as energy will be critical in achieving net carbon zero targets.” said Masaharu Okubo, Chief Operating Officer of the Energy Business Unit 1.

UK CCS project invested into by Japanese trading house

, , , , , , , , ,
Previous Post
Energy efficiency software launched by Utility Team
Next Post
Global Summit to take place in UK

Related Posts

£30m grid update completed by SP Energy Networks

£30m grid update completed by SP Energy Networks: One of the biggest overhead line refurbishment project to date has been completed by SP Energy Networks In Southern Scotland with an investment worth £30 million. Major upgrades have been made on the 68km ‘V route’ this runs between Hawick and Harker, Galashiels and plays a huge…
Read More

America Rejoins Paris Climate Change agreement

America Rejoins Paris Climate Change agreement: The first day of the US return to the Paris Agreement was marked as last Friday. António Guterres, UN Secretary-General stated while speaking at a virtual event: “For the past four years, the absence of a key player created a gap in the Paris Agreement, a missing link that…
Read More
Menu

Subscribe to our newsletter!

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

British Utilities will use the information you provide on this form to be in touch with you and to provide updates and marketing.