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UK Turns to Big Oil in £20 Billion Carbon Capture Push

  • BP is set to be the UK’s biggest carbon capture company
  • Storing captured CO2 below the sea is key to UK climate plans
Updated on

The UK selected projects from developers including BP Plc and Equinor ASA to enter into negotiations for the country’s first large-scale efforts to capture and store carbon emissions. 

In total, eight projects are set to receive government support to trap carbon from industrial clusters in the north of England. The technology could be a key tool to help the UK reach its goal of net-zero emissions by 2050. Britain plans to spend £20 billion ($24.6 billion) subsidizing the technology in the coming years.