One More Company Joins Acorn CCS As Partner

One More Company Joins Acorn CCS As Partner
North Sea Midstream Partners has acquired a 10 percent interest to become a participant in the Acorn CCS and Hydrogen Project in the UK.

North Sea Midstream Partners (NSMP) has acquired a 10 percent interest to become a participant in the Acorn Carbon Capture and Storage and Hydrogen Project in the UK.

NSMP is an independent midstream company with large-scale gas infrastructure assets serving the North Sea. Its St Fergus gas terminal is ideally positioned geographically to host key Acorn infrastructure.

The company also has existing facilities and operating and maintenance service provision capability with the associated power, utilities, and support services required for such a development.

NSMP believes that the St Fergus facility can help simplify and accelerate the development of Acorn by enabling all users to benefit from the synergistic opportunities that can be derived from a collaborative shared infrastructure and services business model.

Storegga, Shell, and Harbour Energy became equal partners in the Acorn Project in April 2021. In June, Shell took over as the technical developer of the project while Storegga, through its Pale Blue Dot Energy subsidiary, continued as the lead project developer.

Now that North Sea Midstream Partners owns 10 percent in the project, Storegga, Shell, and Harbour will each hold a 30 percent interest in the Acorn project.

Regarding the Acorn CCS infrastructure, it is considered vital to enable the United Kingdom to meet its net-zero commitments by 2050, and for Scotland to meet legally binding 2030 emission reduction targets as well as the earlier 2045 Net-Zero path.

“We need to be developing as many UK CCS projects as possible now to support rapid decarbonization. The UK cannot reach its Net Zero targets without the CCS capacity of projects such as the Acorn Project, and it has to be a priority for accelerated development. We do not have the luxury of choice, the climate issue is urgent, there is no time to lose,” Nick Cooper, CEO of Storegga and Lead Developer of the Acorn Project, said.

“We are delighted to become a partner and look forward to working alongside the other Acorn partners to rapidly develop the Project in support of the UK Net-Zero targets,” Andy Heppel, CEO of NSMP, claimed.

“Together with our long-term operating partner PX Group, we are committed to playing a leadership role in the achievement of a net-zero future and investing to ensure that we have the operational capability, resources, and skillsets to deliver our energy transition objectives for our shippers and wider stakeholders,” he added.

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