(WO) – Harbour Energy issued a report setting out the significant economic benefits the Viking CCS CO2 transport and storage project can unlock in the Humber region.
The Viking CCS cluster is positioned to transform the Humber into the center of the UK’s net zero economy. The project could unlock up to £7 billion ($7.53 billion) of investment across the full CO2 capture, transport and storage value chain from 2025 to 2035.
The project can also support the development of new critical infrastructure over the next decade, providing an estimated £4 billion ($4.3 billion) of gross value add (GVA) to the region and creating up to 10,000 new jobs during its construction.
The report underlines the pivotal role Viking CCS can play in decarbonizing industry, promoting inward investment and attracting new industries. It also highlights how the project can help address the challenge faced by emitters beyond the Humber that have no access to carbon capture infrastructure, through the future development of both shipping and additional pipeline networks.
The report sets out the major benefits that Viking CCS can bring to the Humber and its surrounding regions and how the project will shape the area into a low-carbon hub defined by a world-leading CCS project and a skilled workforce.
Graeme Davies, Harbour Energy’s Viking CCS Project Director, said, “Harbour Energy’s Viking CCS project is uniquely positioned to transform the Humber into the UK’s leading carbon capture and storage hub.
“Alongside our cluster members, we have a clear pathway to delivering one-third of the UK’s carbon capture target of up to 30 million tonnes by 2030. We encourage the UK Government to act swiftly and announce its plans for the Track-2 cluster sequencing process.”