Claire Perry has today welcomed the formation of a new CCUS Advisory Group which will include industry, finance and policy experts to help deliver the Government’s CCUS Action Plan published in November.
Government and industry are working together to develop the cost structures, risk sharing arrangements and the necessary market mechanisms that will create the stable investment framework necessary to deliver the first CCUS projects by the mid-2020s. The Group will make policy recommendations backed up with detailed modelling and evidence to support their conclusions.
This follows several positive Government announcements made at the end of last year. In November the Government published their CCUS Action Plan which committed to delivering the first CCUS project by the mid 2020s. A few weeks later Claire Perry confirmed that £170 million would go towards developing the world’s first net zero cluster of heavy industry by 2040, with CCUS expected to play a key role.
Speaking at the CCUS Council today, Energy and Clean Growth Minister Claire Perry said:
“The UK will continue to thrive as a world leader in clean growth technologies like carbon capture through our ambitious modern Industrial Strategy. The new advisory group will help ensure that we take full advantage of the potential of this emerging industry, with a view to deploying the first CCUS facility in the UK from the mid-2020s.”
Paul Davies, Chair of the CCUS Advisory Group said:
“Forming the CCUS Advisory Group is a great step forward, as the public and private sectors will now work together to develop a detailed commercial framework to underpin CCUS delivery in the UK. This is a key crucial initiative necessary to ensure the first projects are operational by the mid-2020s”.
Luke Warren, Chief Executive of the Carbon Capture and Storage Association said:
“2019 needs to be the year of action on CCUS if we are to commission the first projects by the mid-2020s and deploy at scale in the 2030s. In the year when the Government will consider how to achieve net zero emissions, all the evidence points to CCUS being essential if we are to have any hope of reaching the goals of the Paris Agreement. The establishment of this new Advisory Group shows that Government and industry are prepared to work together to make this happen, and the CCSA looks forward to supporting the Government’s ambition of becoming a world leader in this crucial technology.”Download PDF ↓