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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About KPMG:
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.
