Equinor and Partners Greenlight UK's First Carbon Capture Projects

Deal News | Dec 10, 2024 | Equinor ASA

Equinor and Partners Greenlight UK's First Carbon Capture Projects

Equinor ASA, together with its partners, has reached a significant milestone by taking a Final Investment Decision (FID) and achieving financial close on two pioneering carbon capture and storage (CCS) projects in the UK. The projects, Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power), mark a key advancement in the UK's efforts to achieve net-zero carbon emissions. Located in Teesside, these projects are set to be among the first of their kind in the country, demonstrating a crucial step towards sustainable energy solutions by capturing carbon emissions and storing them underground. The collaboration represents a critical partnership in addressing climate change, leveraging Equinor’s experience and commitment to sustainable energy initiatives.

Sectors

  • Energy
  • Environmental Technology

Geography

  • United Kingdom – The projects are based in Teesside, UK, signifying a major advancement in the country's carbon reduction and sustainability efforts.

Industry

  • Energy – The projects involve energy companies and the development of technologies for carbon capture, which are part of the innovative advancements within the energy sector.
  • Environmental Technology – Carbon capture and storage is a critical environmental technology aimed at reducing carbon emissions and fighting climate change.

Financials

  • Not specified – The article confirms financial closure but does not specify the financial terms or investment figures.

Participants

NameRoleTypeDescription
Equinor ASALead CompanyCompanyAn international energy company leading the execution of the UK's first carbon capture and storage projects.
Northern Endurance Partnership (NEP)ProjectCompanyOne of the first two CCS projects in the UK, part of Equinor's carbon capture initiative.
Net Zero Teesside Power (NZT Power)ProjectCompanyAnother CCS project in collaboration with Equinor, focused on achieving net-zero emissions in Teesside.