Carbon capture and storage plan for Grangemouth
The Grangemouth facility will help cut gases (pic: Terry Murden)
Ineos, the petrochemicals giant, will play a central role in helping to develop Scotland’s first carbon capture and storage system.
The company’s three Grangemouth businesses, Petroineos, Ineos Chemicals and Ineos FPS, have signed a Memorandum of Understanding (MoU) to link up with the Acorn Project, a CO2 transport and storage system in the north east of Scotland.
Ineos said the plan for the Grangemouth oil refinery – which is operated by Petroineos, a joint venture between Ineos and PetroChina – could take out an initial million tonnes of carbon a year from 2027.
Those involved say it will helpScotland meet its target of net zero emissions of all greenhouse gases by 2045 – and comes ahead of Glasgow hosting the COP26 climate change conference later this year.
Since taking ownership of the facility in 2005, Ineos and Petroineos say its CO2 emissions have fallen by 37% and that once the proposed CCS system is operational, this figure this will rise to more than half compared to 2005 levels.
Andrew Gardner, chairman of Ineos Grangemouth, said: “Ineos and Petroineos at Grangemouth recognise the importance of reducing greenhouse gas emissions from our industrial processes.
“We have already made significant reductions since taking ownership of the site and we are delighted to be taking this further by supporting the Acorn CCS Scottish Cluster bid.
“Once operational, the [CCS] system will provide an essential route to permanently and safely capture and store CO2 emissions for large industrial emitters throughout Scotland with significant positive impact for climate change and the country.”
Nick Cooper, chief executive of Storegga, said: “The Acorn project partners – Storegga, Shell and Harbour Energy – are delighted that INEOS and Petroineos have entered into an MOU with Acorn, which is a really significant step in managing Scotland’s industrial emissions.
“The Acorn CCS and hydrogen project is advanced, highly scalable and has clear visibility of a large CO2 customer base. Acorn provides critical carbon reduction infrastructure to the growing Scottish Cluster of emitters and to the wider UK.”
Richard Lochhead, the Scottish Government’s just transition minister, said: “Grangemouth is a leading manufacturing centre in Scotland and will play a vital role in our just transition to net zero. This announcement is an important step for unlocking that potential.
Richard Lochhead: ‘huge opportunity’ (pic: Terry Murden)
“We are supportive of the Acorn project, considered the most advanced CCS project in the UK.
“It, and the wider Scottish Cluster, has vast potential to support decarbonisation in Scotland, the UK and the wider world.
“Vitally, CCS also presents a huge opportunity to harness the skills and expertise of our current workforces to create many good, green jobs in the coming years.
“It is critical that the UK Government selects Acorn and the Scottish Cluster to be among the first CCU clusters to be awarded funding through its current cluster sequencing process.
“Today’s announcement from Ineos and Petroineos further strengthens the case for UK Government support.”