UK Decarbonisation and Carbon Capture and Storage — [Mr Clive Betts in the Chair]

Part of Backbench Business – in Westminster Hall at 3:30 pm on 24th January 2017.

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Photo of Jim Shannon Jim Shannon Shadow DUP Spokesperson (Health), Shadow DUP Spokesperson (Transport), Shadow DUP Spokesperson (Equality) 3:30 pm, 24th January 2017

The Minister will take note of my hon. Friend’s comments and am sure will respond later.

We have seen not one but two failed voyages into the unknown of CCS projects, for which we have spent £168 million with no further resolutions and only lessons learned. We do not want this to be like the Mary Celeste— setting sail, getting nowhere and disappearing. It is my understanding that the cancelling of the second competition will impact on investors’ confidence, who in future may demand better conditions before engaging with the Government again, which will prove detrimental to the cost-effectiveness of future projects.

We do not want this to harm the future and where we are going. I feel strongly that both the Government and BEIS need success guaranteed in both financial and in environmental areas before embarking on such voyages in the future, and as such I believe that every consideration must be given to how this particular project will help us to achieve our goals, and indeed whether it can do so.