Ineos, Petroineos to store 1 mln tonnes of CO2 at Acorn project by 2027
The Acorn Project partners – Storegga, Shell, and Harbour Energy – have signed a memorandum of understanding (MOU) with Ineos and Petroineos at Grangemouth to develop Scotland’s first carbon capture and storage system linking the industrial heartland to the Acorn CO2 transport and storage hub by 2027.
Ineos and Petroineos own and operate one of Scotland’s largest manufacturing sites at Grangemouth. This initiative will cover their entire Grangemouth site and will enable the capture and storage of approximately one million tonnes a year of CO2 by 2027, with the scope to capture further significant volumes beyond this date.
The two companies are the latest big industrial emitters to join the Scottish Cluster, which makes use of the Acorn Project infrastructure to enable CCS, hydrogen, and other low carbon technologies in Scotland and across the UK.
The Acorn project is currently in the front-end engineering and design phase of development and is planned to be operational by the mid 2020s, with the potential of achieving more than half of the 10Mt/yr of CO2 storage targeted by the UK Government’s Ten Point Plan for a green Industrial Revolution by 2030.
Nick Cooper, CEO of Storegga and the lead developer of the Acorn project, said: “The Acorn Project partners are delighted that Ineos and Petroineos have entered into an MOU with Acorn, which is a really significant step in managing Scotland’s industrial emissions.
“The Acorn CCS and hydrogen project is advanced, highly scalable and has clear visibility of a large CO2 customer base. Acorn provides critical carbon reduction infrastructure to the growing Scottish Cluster of emitters and the wider UK”.
Andrew Gardner, chairman of Ineos Grangemouth, added: “Ineos and Petroineos at Grangemouth recognise the importance of reducing greenhouse gas emissions from our industrial processes.
“As one of Scotland’s largest manufacturers and employers, we acknowledge that we are operating a CO2 intensive industry and we have a significant role to play in helping Scotland reach its Net Carbon Zero target by 2045.
“We have already made significant reductions since taking ownership of the site and we are delighted to be taking this further by supporting the Acorn CCS Scottish Cluster bid.
“Once operational, the carbon capture and storage system will provide an essential route to permanently and safely capture and store CO2 emissions for large industrial emitters throughout Scotland with significant positive impact for climate change and the country”.
As for the project, Acorn CCS holds the first UK CO2 appraisal and storage licence awarded by the Oil and Gas Authority and is looking to establish CO2 mitigation infrastructure essential for meeting the Scottish and UK Government Net Zero targets.
Through the Acorn Hydrogen project, North Sea natural gas would be reformed into clean hydrogen, with CO2 emissions safely mitigated through the Acorn CCS infrastructure.
Hydrogen would be used in transport applications, and in the gas grid to decarbonise heating in homes and industries.