BP buys stake in UK carbon capture project

BP has acquired a 40 per cent stake in the UK’s Viking CCS project from Harbour Energy as the government looks to accelerate plans to develop carbon capture and storage.

The Viking project aims to meet up to a third of the UK’s annual target of capturing 30mn tonnes of carbon dioxide by 2030, by repurposing old depleted gasfields off the Humber region coast.

There are also plans to ship in additional CO₂ emissions from other parts of the UK and abroad through the port of Immingham on England’s north-east coast.

Harbour, which is the largest oil and gas producer in the UK North Sea, will operate the project with BP.

Anja Dotzenrath, head of gas and low carbon energy at BP, said the company was “excited” about the project’s potential for “helping to decarbonise the UK” and as “a future CO₂ shipping destination”.