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CCS could be worth £100 billion to UK manufacturers

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A new reported has concluded that UK companies engaged in the supply chain for the offshore oil and gas industry are well-positioned to win new contracts for carbon capture and storage (CCS) projects should industry and government take rapid action.

CCS, whereby carbon emissions are captured and then transported for permanent storage, is positioned as a valuable technology for reducing the emissions of energy-intensive industries. The report – which was compiled by Offshore Energies UK (OEUK) at the request of the Department for Business, Energy and Industrial Strategy – points out that companies engaged with the offshore oil and gas sector already have relevant knowhow for CCS in many areas.

Katy Heidenreich, the Director for Supply Chain and Operations at OEUK, said that CCS is going to be an important tool for countering climate change, but it is also a great opportunity for companies that currently support the offshore oil and gas sector to assist in decarbonising energy-intensive operations. She added:

“If we get this right, it could unlock £100 billion of work for UK manufacturing employers by 2050. This will support UK jobs, cut emissions, boost the economy and develop skills which can be exported globally.”

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