The Department for Energy Security and Net Zero has announced its CCUS Vision that sets out plans for new competitive market in Carbon Capture, Usage and Storage (CCUS) by 2035.

The plan sets out how the UK will transition from early projects backed by Government support to becoming a competitive market, meaning UK companies will compete to build carbon capture facilities and sell their services to the world.

This is expected to boost the economy by £5bn a year by 2050, with the aim of making the UK a global centre for technology.

This is the latest step in delivering the recently announced £20bn investment to develop CCUS technologies which aims to store 20-30 million tonnes of CO2 per year by 2030 and support 50,000 jobs by 2030.

Energy Security Secretary Claire Coutinho said: “Thanks to the UK’s geology, skills and infrastructure, we are in a unique position to lead the way on carbon capture technologies. That is why we’re making one of the biggest funding commitments in Europe on carbon capture that will cut emissions from our atmosphere, while unlocking investment, creating tens of thousands of jobs and growing the UK economy.” 

Earlier this year, a further two carbon capture clusters were announced, bringing the total to four UK carbon capture clusters to support the Government’s ambition to decarbonise industry and power – HyNet in North West England, East Coast Cluster in Teesside and the Humber, Acorn in Scotland and Viking in the Humber.

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