The company, which is a joint venture of Centrica and Stadtwerke München, expects the project to have a storage capacity of up to one gigaton of carbon dioxide
Spirit Energy confirms plans for a carbon storage cluster project in the UK. (Credit: Spirit Energy Limited)
Spirit Energy plans to make a multi-billion-pound investment to convert its depleted South Morecambe and North Morecambe gas fields in the Irish Sea and Barrow Terminals into a carbon storage cluster.
The company, which is a joint venture of Centrica and Stadtwerke München, expects the project to store up to one gigaton of carbon dioxide (CO2). This capacity is said to be equivalent to nearly three years’ worth of the current emissions of CO2 in the UK.
According to Spirit Energy, the proposed cluster will allow emitters within carbon-intensive sectors, including the North West, South Wales, and the Solent, in storing their carbon emissions for the long term.
Spirit Energy CEO Neil McCulloch said: “Our project will introduce cost-effective decarbonisation to businesses all over the UK, with a multi-billion-pound facility which means that a connection to a CO₂ export pipeline is no longer necessary to access carbon storage.
“Our new cluster will provide a solution for the UK’s industrial heartlands to reduce their carbon emissions, while also injecting significant green investment into Cumbria and the North West of England, where we have a proud history of working closely with the community and supporting local jobs and enterprise.”
Spirit Energy said that the carbon storage cluster will be located near the Port of Barrow in Cumbria. This will enable the project to take CO₂ transported by ship as well, which will benefit industrial sites that do not have a direct connection to a CO₂ pipeline.
The company said that the project will be subject to getting a licence from the North Sea Transition Authority and other regulatory approvals. Following these, the carbon cluster project will underpin the UK’s Net Zero goals, while fostering growth and drawing more investment across the region, said the oil and gas firm.
Cumbria Local Enterprise Partnership chief executive Jo Lappin said: “Major businesses like Spirit Energy are backing Cumbria and channelling billions into our local economy.
“This new cluster will bring immense benefits to Cumbria – not only does it promise to create thousands of local jobs, it also has the potential to attract further international investment as the carbon storage cluster develops.”