# Harbour Energy and bp agree to develop the Viking CCS transportation and storage project

- Link: https://www.directorstalkinterviews.com/harbour-energy-and-bp-agree-to-develop-the-viking-ccs-transportation-and-storage-project/4121114068
- Published: 2023-04-11T07:40:45+01:00
- Author: Giles

**[Harbour Energy Plc](https://www.directorstalkinterviews.com/ftse-company/harbour-energy/hbr.l)**(
LON:HBR) and [bp Plc](https://www.directorstalkinterviews.com/ftse-company/bp-plc/bp.l)(
LON:BP) have announced that they have entered into an agreement to develop the Viking
CCS transportation and storage project.

Under the terms of the agreement, Harbour continues as operator of Viking CCS with
a 60 per cent interest, with bp acquiring a 40 per cent non-operated share, bringing
together two of the most experienced operators in the North Sea. Located close to
the heavily industrialised Humber region, Viking CCS has the potential to meet one
third of the UK Government’s target to capture and store up to 30 million tonnes
of CO_(2) a year by 2030. 

The announcement follows the UK Government’s recent decision to launch Track 2 of
its CCS cluster sequencing process, and its recognition that Viking CCS is one of
two leading transport and storage system contenders for this process.

The delivery of the Viking project could be transformational for the region, potentially
unlocking up to £7 billion of investment across the full CO_(2) capture, transport,
and storage value chain over the next decade, creating over 10,000 jobs during construction,
and providing an estimated £4 billion of gross value add (GVA) to the Humber and
its surrounding areas.

Harbour and bp already share an interest in the Lincolnshire Offshore Gas Gathering
System (LOGGS) pipeline which is intended to be repurposed as part of the project.
This provides a unique, low-cost opportunity to connect customers to the depleted
Viking gas fields, which recently had their 300 million tonnes of CO_(2) storage
capacity independently verified.  

Viking CCS also has access to a planned new CO_(2) shipping terminal at Associated
British Ports’ Port of Immingham, with the potential for shipped CO_(2) from dispersed
emitters elsewhere in the UK and internationally to be transported for permanent
storage within the Viking fields.   

Subject to the outcome of the Track 2 Cluster Sequencing Process, a final investment
decision is expected in 2024. The project could be operational as early as 2027 
and potentially storing up to 10 million tonnes of CO_(2) per year by 2030.  

> **Linda Z Cook, CEO of Harbour Energy, commented:**
> “We welcome the UK government’s recent announcement about the launch of Track 
> 2 and the addition of bp as a partner to this transformational project. Viking
> CCS has the potential to unlock billions of pounds of investment across the full
> CCS value chain and is crucial for the UK to meet its emissions reduction targets.”

> **Anja Dotzenrath, Executive Vice President of Gas and Low Carbon Energy bp, said:**
> “We’re extremely excited to be joining Viking CCS, a project which can play an
> instrumental role in helping to decarbonise the UK and providing CO_(2) transport
> and storage as a service to emitters across industry sectors and geographies, 
> including as a future CO_(2) shipping destination.”

> **Louise Kingham, SVP Europe and Head of Country UK for bp****, commented:**
> “Our entry into Viking CCS demonstrates bp’s commitment to Backing Britain through
> substantial investment and helping the country achieve its net zero goals. Viking
> CCS could help create thousands of new local jobs and enable supply chains that
> support growth of CCS in the UK.”

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