31st Jul 2023 09:03
Harbour Energy PLC - oil and gas company with interests in Indonesia, Vietnam, Mexico and Norway - Says Viking CO2 transportation & storage network in Humber, north England and Acorn carbon capture & storage project in northeast Scotland are awarded Track 2 status by UK government. This allows both projects to progress to front end engineering & design plus discussions with the government over economic licence terms. Harbour says Viking could transport and store up to 10 million tonnes, and potentially enable CO2 shipping from UK and international emitters for permanent storage within the network's fields.
Chief Executive Officer Linda Cook says: "Today's announcement is an important step forward for Harbour's Viking and Acorn CCS projects and the development of the [CCS] industry in the UK. It is also a further demonstration of the key role that the oil and gas sector is playing by using our existing infrastructure, skills and experience to build this new industry and help deliver the energy transition."
Current stock price: 258.30 pence, up 2.2% in London on Monday
12-month change: down 28%
By Emma Curzon, Alliance News reporter
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