Ineos to abate emissions using UK's Acorn CCS project

UK chemicals producer Ineos and its Petroineos joint venture with China's PetroChina have signed a memorandum of understanding (MoU) on potentially storing their CO₂ emissions at the UK's Acorn carbon capture and storage (CCS) project, the companies said on July 9.

The Acorn CCS project aims to store up to 5mn metric tons/year of CO₂ under the seabed off the east coast of Scotland, with commercial operations targeted to start in the mid-2020s, although a final investment decision is yet to be taken. UK CO₂ storage specialist Storegga and North Sea producers Shell and Harbour Energy became equal partners in the project in April.

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The MoU envisages Acorn CCS handling CO₂ that is currently emitted at Ineos' refining and chemicals complex in Grangemouth, one of Scotland's largest industrial clusters, starting in 2027. Ineos estimates it has reduced CO₂ emissions at Grangemouth by 37% since acquiring the facilities in 2005, and with the use of CCS, it expects the reduction to reach 50%.

"Once operational, the carbon capture and storage system will provide an essential route to permanently and safely capture and store CO₂ emissions for large industrial emitters throughout Scotland with significant positive impact for climate change and the country," Ineos Grangemouth chairman Andrew Gardner commented.

The Acorn project will rely on existing oil and gas infrastructure to transport and inject CO₂ under the North Sea bed. It will also produce blue hydrogen from North Sea gas arriving at the St Fergus terminal, providing a low-carbon fuel for energy-intensive industry. The project earlier this year secured £31mn ($43mn) of government support as part of the UK's Industrial Decarbonisation Strategy.