BP Junks Plan For 500 Million Pound Carbon Capture/Hydrogen Plant In Scotland - Guardian

[hatrack]

The decision by BP to scrap a revolutionary new hydrogen plant and carbon capture scheme in Scotland due to government delays was a "sad" blow to a nascent industry, officials from the sector said yesterday.

Britain's biggest company had planned to spend $1bn (£503m) on the scheme, based at Peterhead. It would have generated clean fuel by capturing and storing the carbon under the North Sea but BP said it was no longer proceeding with the plan. It said the government's timetable, revealed in Wednesday's energy white paper, for a competition to win financing for a prototype plant was too slow.

EDIT

BP was planning to store carbon from Peterhead in the Miller field in the North Sea, but to meet the government's timetable BP would have had to keep the field mothballed, which would be "uneconomic". (Ed. - emphasis added)

It said the project had already cost it $50m. The financial viability of carbon capture is still unproven, but Mr Chapman argued it should be considered alongside renewables for investment help.

EDIT/END

http://business.guardian.co.uk/story/0,,2087713,00.html

[kestrel91316]

1. "......capturing and storing the carbon under the North Sea......"

It would be cheaper and easier for them to just rent a few storage units at Public Storage and keep it in there.

Either way, I don't consider it "sequestration". What a joke. They think it will magically stay put????

[razzleberry]

2. the UK-gov'ts boondoggle check was not forthcoming .n/t