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.