Equinor, Partners Greenlight UK Carbon Capture Projects

Equinor, along with partners BP and TotalEnergies, has reached a Final Investment Decision for two pioneering carbon capture and storage (CCS) projects in Teesside, UK: the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power). The NEP will initially store up to 4 million tonnes of CO2 per year, with potential expansion to 23 million tonnes by 2035. Meanwhile, NZT Power will generate up to 742 megawatts of low-carbon electricity, enough to power a million homes, and capture 2 million tonnes of CO2 annually. Construction is slated to begin in mid-2025, with operations expected by 2028, supported by the UK government's £21.7 billion funding commitment to CCS initiatives. This investment is projected to create approximately 2,000 jobs in the North East initially, with tens of thousands more as the CCS industry expands. These projects are part of the UK's broader effort to achieve net-zero emissions by 2050 and rejuvenate its industrial sectors.