Sir Keir Starmer unveils £2bn carbon capture deal creating 2,000 jobs

illuminem summarises for you the essential news of the day. Read the full piece on The Independent or enjoy below:

🗞️ Driving the news: UK Prime Minister Sir Keir Starmer has unveiled a £2 billion carbon capture and storage (CCS) agreement with Italian energy firm Eni (see sustainability performance), aimed at creating 2,000 skilled jobs across north Wales and the North West
• The investment will support the Liverpool Bay CCS Project, part of a broader strategy to decarbonise British industry and boost clean energy infrastructure

🔭 The context: This announcement follows the Labour government's October 2024 pledge to invest £21.7 billion in making the UK a global leader in CCS technology
• The Liverpool Bay project forms a cornerstone of this ambition, leveraging depleted offshore gas fields and repurposed pipeline infrastructure to store industrial emissions
• It marks one of the UK's most significant CCS partnerships to date, bolstered by regulatory support and cross-sector collaboration

🌍 Why it matters for the planet: The deal enhances the UK's capacity to address emissions from hard-to-abate sectors like hydrogen and cement, where direct electrification is challenging
• If implemented effectively, it could help the UK meet its legally binding net-zero targets while preserving industrial competitiveness

⏭️ What's next: The Liverpool Bay CCS network will include 35 km of new pipeline infrastructure and is part of a larger push to build a national clean industrial network
• Key timelines include construction kickoff within the next year, with phased integration across North West industries
• The project will likely serve as a model for future CCS hubs across the UK, particularly as the government accelerates its green industrial strategy and net-zero transition

💬 One quote: “The strategic agreement with the UK government paves the way for the industrial-scale development of carbon capture and storage,” — Claudio Descalzi, CEO of Eni

📈 One stat: The UK government’s total CCS commitment now stands at £21.7 billion, with this project alone expected to create 2,000 jobs and support thousands more through supply chains

See on illuminem's Data Hub™ the sustainability performance of Eni and its peers Equinor, Shell, and BP

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