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Italy's Saipem signs preliminary UK deal for CO2 transport, storage

Published 15/03/2024, 10:14
Updated 15/03/2024, 10:16
© Reuters.

MILAN (Reuters) - Italy's Saipem said on Friday it had signed a memorandum of understanding (MOU) to develop offshore infrastructure to transport and store carbon dioxide for a cluster of carbon capture projects in northern England.

The MOU was signed with the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power).

The two projects are expected to transport and store some 4 million tonnes of carbon dioxide each year from 2027.

Saipem will be responsible for the engineering, supply, construction and installation of a 145-kilometre (90 miles) offshore conduct, as well as inspections, for the NEP project.

It will provide the engineering, supply, construction and installation for a drainage line for the NZT Power project.

Offshore operations will be carried out by Saipem's Castorone vessel, while those closer to the coast will be carried out by the Castoro 10 barge.

BP (LON:BP), Norway's Equinor and France's TotalEnergies (LON:TTEF) are partners in the NEP project. NZT Power is a joint venture between BP and Equinor.

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