Eni secures lease for UK carbon capture project

illuminem summarizes for you the essential news of the day. Read the full piece on Carbon Herald or enjoy below:

🗞️ Driving the news: Eni has secured a lease from The Crown Estate to develop the UK’s HyNet carbon capture and storage (CCS) project
• The initiative will reuse existing pipelines to capture and store carbon emissions from industrial sites across North West England and North Wales
• The project aims to significantly reduce emissions using depleted natural gas reservoirs under the Irish Sea

🔭 The context: HyNet is the UK’s first CCS project that repurposes existing infrastructure, reducing both costs and environmental impact
• The UK has prioritized CCS as part of its strategy to reach net-zero emissions by 2050
Eni’s experience in natural gas field development will be crucial for the project's success

🌍 Why it matters for the planet: This project is a key part of the UK’s decarbonization strategy, aiming to capture up to 10 million tonnes of CO2 annually by 2030
• By utilizing existing infrastructure, HyNet minimizes environmental disruption and accelerates the transition to a low-carbon economy

⏭️ What's next: The project is set to be operational after 2030, contributing to the UK’s long-term emissions reduction targets
• Future CCS projects, like the North Sea initiative, are expected to follow HyNet's model, expanding the UK's carbon storage capacity

💬 One quote: “The Crown Estate recognizes the crucial importance of carbon capture and storage (CCS) in helping the UK achieve its climate goals,” notes The Crown Estate

📈 One stat: The HyNet project is expected to capture and store up to 10 million tonnes of CO2 annually by 2030

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