Northern Endurance Partnership (NEP) announced financial close, allowing to proceed with the execution of the first CCS project in the UK. NEP, in which TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) holds a 10% shareholding interest, will permanently store up to an initial 4 million tonnes of CO2 per year.
The NEP infrastructure will initially serve three carbon capture projects in the Teesside region (NZT Power, H2Teesside and Teesside Hydrogen CO2 Capture). Infrastructure includes an onshore CO2 gathering network, compression facilities and a 145 km offshore pipeline connected to subsea injection facilities in the Endurance saline aquifer located around 1,000m below the seabed.
Construction is expected to start from mid-2025 with first CO2 storage expected in 2028.
Arnaud Le Foll, Senior Vice President New Business – Carbon Neutrality, TotalEnergies, said: “We are very pleased to be a part of this significant moment in the development of the UK’s CCS industry. NEP is a frontrunner project and we look forward to transporting and permanently storing CO2 from one of the UK’s largest industrial regions. Our stake in NEP contributes to TotalEnergies’ objective to develop significant CO2 storage capacities in the North Sea, where we can leverage our expertise in operations and geosciences.”
Chris Daykin, Director, Northern Endurance Partnership, said: “This is a landmark moment in the development of CCUS infrastructure and the UK’s ambition to reach net zero emissions by 2050. With joint backing from shareholders and the UK Government, Northern Endurance Partnership is entering its execution phase ahead of start-up expected in 2028.”
Ed Miliband, Secretary of State for Energy Security and Net Zero, said: “This investment launches a new era for clean energy in Britain - boosting energy security, backing industries, and supporting thousands of highly skilled jobs in Teesside and the North East. This is the Government’s mission to make the UK a clean energy superpower in action- replacing Britain’s energy insecurity with homegrown clean power that rebuilds the strength of our industrial heartlands.”
