Gethins expected to update on carbon capture plan – Daily Business

Stephen Gethins: speaking at summit

Scotland’s energy minister Stephen Gethins will be expected to provide an update on the carbon capture project destined for the north east when he addresses industry leaders today.

Mr Gethins will join trade group OEUK’s first North Sea carbon capture and storage and hydrogen summit in Edinburgh as major projects are expected to move from planning into delivery across Scotland and the wider North Sea region.

They include the Morecambe Net Zero and Peak Cluster developments which aim to decarbonise around 40% of emissions from UK cement manufacturing, helping safeguard more than 13,000 jobs.

However, Scotland’s flagship Acorn carbon capture and storage (CCS) project was thrown into uncertainty at the turn of the year when key backer Storegga announced plans to sell its stake in the development. 

Work has continued amid reports that new investors have been tempted to join the project, but there has been no clarification on a new financing deal beyond £200m conditionally committed by the Chancellor in the spending review last June.

The SNP made reference to Acorn in its manifesto for the elections to the Scottish Parliament, stating: “We will support the Acorn project in the North East and we will support the further use of Carbon Capture technology where it can demonstrate decarbonisation at pace.”

Mr Gethins, who was recently appointed Scottish Government Minister for Europe, External Affairs and Energy, will deliver a keynote address at the Sheraton Grand Hotel.

Ahead of the event, he said: “I very much welcome the opportunity to attend this inaugural Summit as Scotland’s new Energy Minister so I can speak to key industry leaders, regulators and investors who are delivering the energy transition we know is crucial to Scotland’s future prosperity and security,” he said.  

“Scotland has significant opportunities when it comes to carbon capture, utilisation and storage, and in hydrogen. These will be central to decarbonising our heat, industry and power sectors, reducing emissions, driving industrial development and sustainable fuel production, supporting economic growth, and enabling a just transition.” 

He has been criticised for declining to commit on further exploration in the oil & gas sector, stating in an interview: “Not for the sake of it.”

Enrique Cornejo OEUK policy director, said:  “Carbon capture and storage and hydrogen can help cut emissions while keeping vital industries working here in the UK. 

“The North Sea gives us a real advantage. We have the storage space, infrastructure, skills, and supply chain to lead the CCS market. 

“With the right support, that can mean real projects, skilled jobs, and new investment for communities across Scotland and the wider UK. 

“This summit is about bringing people together to turn that opportunity into delivery.” 

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