Carbon Capture and Storage

Part of Business, Energy and Industrial Strategy – in the House of Commons at 12:00 am on 7th November 2017.

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Photo of Claire Perry Claire Perry The Minister of State, Department for Business, Energy and Industrial Strategy, Minister of State (Business, Energy and Industrial Strategy) (Energy and Clean Growth) 12:00 am, 7th November 2017

The world has not yet decided to invest in traditional CCUS. There are 21 at-scale plants operating globally, of which 16 rely on enhanced oil recovery as a revenue stream. It is simply not cost-effective enough in its current form for us to commit large-scale investment. We have to get the costs down. We are now in a world where the private sector wants to invest, however, and I am sure we would both welcome developments such as Project Acorn, to which both the UK Government and the Scottish Government have committed funds.