ADNOC acquires a 10.1% stake in UK carbon capture developer

January 12, 2024

ADNOC has acquired a 10.1% stake in London-based carbon capture and storage (CCS) developer Storegga.

Storegga is leading the development of the Acorn CCS project in northeast Scotland, which is targeting subsurface storage in the central UK North Sea of up to 10 MM metric tons/year of CO2 by 2030.

Last month, Storegga and partners Shell UK, Harbour Energy and North Sea Midstream Partners signed a memorandum of understanding with Uniper to ship CO2 captured from the latter’s Grain power station in southeast England to Peterhead Port on Scotland’s east coast.

Read the original article in Offshore: ADNOC takes stake in carbon capture project developer