Veri Energy, the energy transition company, and 7CO2, the Severnside Carbon Capture and Shipping Hub, have signed a Memorandum of Understanding (MoU) to explore the transportation of shipped CO2 from Avonmouth Port to Veri’s Sullom Voe Terminal (SVT) in the Shetland Islands.
Under the terms of the agreement, Veri would receive CO2 that has been shipped from Avonmouth to Sullom Voe at its carbon storage terminal which is currently under development. The terminal forms part of the larger Sullom Voe oil complex that is managed by Veri’s parent company, EnQuest, on behalf of a consortium of oil companies.
Once the CO2 has been received at the port facility at SVT, it will be processed and stored before being transported via EnQuest’s pipeline to a storage reservoir beneath the North Sea.
In May 2023, the North Sea Transition Authority awarded Veri four carbon storage licenses in what was the UK regulator’s first UK offshore carbon storage licensing round. These licenses include more that 300 million tonnes of total storage capacity, while existing infrastructure has potential for up to 10 million tonnes of storage per annum, increasing from as early as 2028/29.
Gavin Templeton, Veri Energy CEO, said: “We look forward to working with 7CO2 to provide an alternative competitive merchant Non-Pipeline Transportation (‘NPT’) solution to 7CO2’s existing plans to be part of a DESNZ Track 2 Carbon Capture cluster. This partnership has the potential to help streamline and reduce full cycle carbon capture costs, bring resilience to 7CO2 and its emitter partners and provide an optimum ‘Value for Money’ carbon capture and storage solution.”
According to Veri’s plans, the strategic location of the SVT on the Shetland Islands provides Veri with the opportunity to import and store CO2 from isolated emitters across the UK, Europe and other locations.
Source: Veri Energy