The Chancellor, Rachel Reeves, has today (Friday 1 August) visited St Fergus to see first-hand the vital role of the Acorn Project in decarbonising Scottish industry and power generation.
This follows the Chancellor’s announcement of development funding for the Acorn Project in the Spending Review and signals the Government’s continued commitment to deploy Carbon Capture, Utilisation and Storage (CCUS) to protect British industries and strengthen job security.
Acorn, part of the Scottish Cluster, is a vital CCUS project set to future-proof Scottish industry, create thousands of skilled jobs and secure a just transition by leveraging the expertise of Scotland’s oil and gas workforce to power growth in low-carbon sectors.
Mark Sommerfeld, UK Director of the CCSA, said:
“The Chancellor’s visit to Acorn further highlights the importance of CCUS in securing the future of our foundational industries and delivering a secure low carbon power system – both in Scotland and across the UK. The Government’s commitment to CCUS means that thousands of skilled jobs will be protected, with thousands more created across our industrial heartlands – delivering economic growth and clean power.
To maintain global leadership in CCUS and realise the full benefits for our industrial communities, we need to see clear deployment pathways for both Acorn and Viking CCS, as well as other projects developing at pace across the UK. By doing so, the Government can deliver on its economic growth mission and climate goals.”