Carbon Catalyst Limited (CCL) acknowledges Perenco UK’s (PUK) announcement issued earlier today (and reproduced overleaf) regarding its award of a carbon storage licence by the North Sea Transition Authority (NSTA) to progress the Poseidon carbon storage project in the Southern North Sea sector of the UK Continental Shelf. CCL is delighted to be partnering with PUK on this potentially world-class mass decarbonisation project.

Poseidon envisions the permanent geological storage of approximately one billion tonnes of carbon dioxide (CO2) into the UK’s largest depleted gas field, the PUK-operated Leman gas field, and other adjacent storage reservoirs within the carbon storage licence. The project is scheduled to be operational by 2029, with initial CO2 injection rates of 1.5 million tonnes per annum (Mtpa), increasing to 40 Mtpa over a 40-year period. Poseidon will connect a wide range of CO2 emitters across East Anglia, London, and the wider Southeast of the UK via the PUK-operated Bacton Gas Terminal to the offshore Poseidon geological storage sites.

Henry Morris, Executive Director at Carbon Catalyst, commented:

“Poseidon has the potential to make a very material contribution to the decarbonisation of the UK economy by storing up to 40 million tonnes of CO2 per year into the giant depleted Leman gas field and overlying aquifer system. CCL is looking forward to supporting Perenco as they progress through the appraisal period towards final investment decision, with the ultimate goal of achieving first CO2 injection by 2029.”