‘Huge potential’ of carbon storage
Storing Europe’s carbon emissions under the North Sea could be as lucrative for the north-east as oil and gas, experts have claimed.
MPs were told yesterday that the region was poised to cash in on an “immense potential value” if old offshore fields could be used to bury the continent’s carbon dioxide.
They heard that the opportunities in the new carbon capture and storage (CCS) sector could fully “compensate” for the decline in traditional North Sea oil and gas.
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