A clean energy project which could bring 5,500 jobs to Teesside has been launched.
The new Net Zero Teesside project, formerly known as the Clean Gas Project, is being led by OGCI Climate Investments, the investment arm of Oil and Gas Climate Initiative, in Middlesbrough.
A consortium of members; BP, Eni, Equinor, Shell and Total, with BP as operator, have announced they are to work together to bring forward the development of the Net Zero Teesside carbon capture, storage and utilisation project on Teesside.
The project has announced memorandums of understanding with three industrial partners, aimed at decarbonising local industry, while an impact assessment of the construction phase of the project estimates support for up to 5,500 direct jobs and up to £450m of annual gross benefit to the Teesside region.
The project, the first major development for the South Tees Development Corporation site, aims to ‘decarbonise’ a cluster of carbon intensive businesses by 2030, capturing up to 6 million tonnes of carbon dioxide emissions each year.
Energy expert view
“Some welcome good news for the region with an opportunity to develop the UK’s first ‘decarbonised’ industrial cluster with backing from a consortium of energy majors.
Hopefully developing carbon capture and storage technology at scale will present new business opportunity internationally while helping us to move nearer to our ‘net zero’ ambitions.” Alastair Fells MEI, Incorporated Eng, PG Dip Fuel Tech, BSc Hons