CCS - Track 2 (part 1)14 Apr 2022 13:33
CC(U)S – TRACK-2
Seeing the considerable discussions regarding CCS over the last few days, I thought I could share some of my findings on the topic. Please however DYOR, this is not representation of my view, simply a gathering of publicly available information.
CCUS is part of the government’s drive to reach Net Zero by 2050, which is a more ambitious target than what was included in the so called 10-Point Plan.
Seeing the CCUS initiative is intended to be quite heavily funded by the public coffers, there is a great amount of information available in the public domain related to this. It also means that the timelines are strongly driven centrally. One of the documents (included below) mentions that the government is recognizing that in order to meet the 2050 targets they cannot simply leave it all for the private sector to get on with it, but that it will need both some central coordination and investment (a lot of details around the possible investment included in links below).
When it comes to Track-2 operational readiness timelines you can see the from below links, they differ somewhat. The first document below, published by the government in May 2021, mentions 2027 (page 15). The other links, which are more recent, talk about 2030 however.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/984001/ccs-infrastructure-fund-cif-design.pdf
Below update from the government’s web site (1 November 2021 update), also contains a link to Greg Hands’ parliamentary statement referenced further below. The update further carries a reference to the FEED studies that Roland mentioned earlier. They expect that support for Track-2 clusters may include access to capital support through the CCS Infrastructure Fund and Net Zero Hydrogen Fund, and revenue support mechanisms through technology-specific business models. Also, Track-2 is seen to be an evolution from Track-1 (lessons learned applied etc.). It also mentions that further work is needed to map a logical sequence for future deployments.
1 November 2021 update: Carbon Capture, Usage and Storage (CCUS) Track-2 - GOV.UK (www.gov.uk)
Rigzone article - UK Picks Two CCS Projects For Government Funding | Rigzone
Statement from Greg Hands - Written statements - Written questions, answers and statements - UK Parliament
Upstream article - UK government picks CCUS clusters in England for state funding - COP26 host Scotland loses out | Upstream Online
....continued in part 2
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