Commenting on the announcement in the Budget today on two new carbon capture & storage (CC&S) projects, Andy Cox, energy partner at KPMG, commented:
“It was clear from the Chancellor’s speech today that averting the impending energy crisis is a top priority for the government. Osborne name checked North Sea oil & gas, shale gas, low emission vehicles CC&S and nuclear in his efforts to quieten the increasing noise on security of supply.
“The government was always clear that carbon capture & storage – alongside wind and nuclear - should form part of a low carbon energy mix. Today’s announcement that two bidders for £1bn of CC&S government support - the Peterhead Project in Aberdeenshire and the White Rose Project in Yorkshire – have been selected shows the government is putting its money where its mouth is on CC&S.”
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