Storegga, Shell, and Harbour Energy become equal partners in the Acorn project

Storegga, Shell, and Harbour Energy become equal partners in the Acorn project

16 Apr 2021

Storegga, through its wholly owned subsidiary Pale Blue Dot Energy, Shell and Harbour Energy (Harbour), the partners in the Acorn project, one of the largest and most mature UK CCS and hydrogen projects, have become equal partners in the project through the signing of the Acorn Development Agreement. As equal partners, Storegga, Shell and Harbour will develop Acorn through to final investment decision, construction, operation and beyond.

The Acorn CCS and hydrogen projects could provide critically important CCS and hydrogen infrastructure, helping industries and homes across Scotland and the UK to decarbonise. It is anticipated to be operational in the mid-2020s, providing a clear pathway to help Scotland and the UK to meet their net zero targets.

Using CO₂ from the St Fergus gas terminal in Aberdeenshire, from Scotland’s carbon intensive industries and imported CO₂ from the rest of the UK and Europe into Peterhead Port, Acorn is expected to be storing at least 5Mt/yr of CO₂ by 2030, half the CO₂ emissions set out in the UK Government’s Ten Point Plan for a green industrial revolution by 2030.

The Acorn project has a broader role to play in decarbonising the energy system, taking North Sea natural gas and reforming it into clean-burning hydrogen, with the associated CO₂ emissions safely captured and stored under the sea at the licensed Acorn CO₂ storage site. This could be operational by the middle of the decade, supporting industrial, power, mobility and domestic customers in north east Scotland and beyond through transportation within the natural gas system.

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