Veri Energy has signed a memorandum of understanding (MoU) with the Severnside Carbon Capture and Shipping Hub (7CO2) to explore CO2 being transported from England to Sullom Voe Terminal (SVT) in Shetland (Scotland) before it is pumped under the North Sea for storage.
Veri Energy is the subsidiary of SVT operator EnQuest, which is overseeing the transition of the terminal. The MoU will see the two firms explore sending CO2 from the Avonmouth Cluster emitter portfolio to Veri’s carbon storage project being developed at SVT.
Under the MoU, Veri would receive shipped carbon dioxide from Avonmouth in the southwest of England at the existing port facility at SVT, condition and store the CO2 before sending it via EnQuest’s pipeline to a storage reservoir under the North Sea.
EnQuest/Veri received four carbon storage licences from the North Sea Transition Authority in May 2023 in the regulator’s first UK offshore carbon storage licensing round. These licences incorporate reservoirs in locations which are accessible using the existing infrastructure, including the 200km East of Shetland pipeline system and the Magnus offshore platform.
Veri said these four licensed sites include more than 300 million tonnes of total storage capacity, while the existing infrastructure has potential for up to 10 million tonnes per annum of storage, ramping up from as early as 2028/2029. Veri CEO Gavin Templeton says: ‘This partnership has the potential to help streamline and reduce full cycle carbon capture costs, bring resilience to 7CO2 and its emitter partners and provide an optimum ‘value for money’ carbon capture and storage solution.’
