UK has announced the final carbon capture project

Unlock Digest Editor free

Halef’s roller, FT editor chooses his favorite stories in this weekly newsletter.

The UK government and the Italian energy company Eni will announce the final Go-Aire on Thursday on a 38-kilometer pipeline to collect carbon dioxide from industrial plants around Liverpool and Manchester and bury it on the shore.

Two people familiar with the project said the announcement would be done because more than 60 leaders gathered in London at a two -day summit energy Security.

EniThe pipeline is an important part of the Hynet North West, an industrial cluster that will include new plants to produce hydrogen used by local manufacturers.

The project’s chargers say the 350,000 production job plan in the region will be safer and that it will create economic value of £ 17 billion over the next 25 years.

The Italian company plans to initially store 4.5 million tonnes of carbon dioxide per year in a number of exhausted gas fields of 0.6 miles under the sea bottom in Liverpool -bei, rising up to 10 mn after 2030, the equivalent of the annual vehicles 4 million.

Last October, the government said he would return Hynet and another project on the east coast, Net Zero Teeside, almost almost £ 22 billion in support More than 25 years.

At the time, the head of the Executive Director of Eni Claudio Decalo stated that support was a “significant step” to create a British carbon capture. Annie’s pipeline also won the planning permit in March, clearing the way to the final approval of investments.

In October, the government stated that Mercisid and Teisaid projects will “introduce growth to the northwestern and northeast of England.”

But they were concerned that for other carbon capture projects that fought for government support remains little money, in particular projects Hamber and Scotland.

Annie refused to comment.

Meanwhile, UK Prime Minister Kire Starmer announced that he would make £ 300 million available for offshore wind projects before the revision of government spending in June.

Funding is designed to make projects less risky for private investors and create supply chains for new technologies such as swimming wind platforms.

Additional Jim Picard Reporting