London, 09/07/2021 - UKPIA welcomes the announcement that Ineos and Petroineos are entering into a Memorandum of Understanding with the Acorn CCS Project to develop Scotland’s first industrial carbon capture and storage system.
Planned to be operational by 2027, the Grangemouth industrial cluster, which includes the Petroineos Grangemouth Refinery, will permanently and safely capture approximately one million tonnes of CO2 a year. Grangemouth has already seen emissions reductions of 37% since 2005. This project, once operational, will deliver over 50% emissions reductions compared to the 2005 baseline.
As the HMG Energy White Paper noted, “The deployment of CCUS is fundamental to the decarbonisation of energy-intensive industries” with the UK “in a strong position to become a global technology leader in CCUS.” [1]
Quotes attributed to UKPIA Director-General Stephen Marcos Jones.
“Today’s announcement by Petroineos shows the contributions that they, along with other UKPIA members, are making towards decarbonising downstream operations to achieve the Net-Zero target.
HMG has clearly acknowledged the significant role the downstream industry will play in the journey to Net-Zero in the Energy White Paper and Industrial Decarbonisation Strategy.[2] Petroineos’ participation in the Acorn CCS project emphasises that our sector both recognises the need to address climate change and is taking tangible action to reduce manufacturing emissions.
UKPIA will continue to work closely with governments, to ensure the downstream sector remains a primary stakeholder in the future low carbon energy evolution. It is only through industry and government working closely together - developing a regulatory framework that allows for innovation - that a strong and low-carbon manufacturing sector can thrive in the UK.”
ENDS
Notes for editors:
- UKPIA represents eight oil refining and marketing companies that operate the six major oil refineries in the UK and source over 85% of the transport fuels used. UKPIA members also own around 1,250 of the UK's 8,000+ filling stations in the UK. UKPIA’s associate members are made up of a wide range of companies - from heating fuel supply and LNG imports, renewable and sustainable fuel producers, to terminals and pipelines - all providing a range of essential services across the industry.
- [1] – HMG Energy White Paper: Powering our net zero future, (December 2020) page 125, available from: https://www.gov.uk/government/publications/energy-white-paper-powering-our-net-zero-future
- [2] – HMG, Energy White Paper, page 146. HMG, Industrial Decarbonisation Strategy, “Case Study: Decarbonising the refining sector” (March 2021) page 70, available from: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/970229/Industrial_Decarbonisation_Strategy_March_2021.pdf