Primary CCUS Area: CO2 Storage
Veri Energy Limited
Veri Energy: Fuelling the Energy Transition
Veri Energy is an energy transition company dedicated to transforming existing infrastructure and delivering large-scale decarbonisation projects. As a wholly owned subsidiary of EnQuest plc, Veri Energy is at the forefront of efforts to repurpose and extend the life of key energy assets while supporting the UK’s net-zero ambitions.
At the core of Veri Energy’s strategy is the redevelopment of the Sullom Voe Terminal (SVT) in Shetland, one of the UK’s largest energy hubs. Leveraging Shetland’s strategic location and existing infrastructure, Veri Energy is developing a suite of low-carbon projects, including:
• Carbon Storage: Veri’s carbon storage project will be a phased development, initially focussed on 2 of the NSTA licences awarded to Veri in 2023 and based on the deepwater port at SVT combined with repurposing of the existing East of Shetland Pipeline system. The project will be a non “Track”, merchant, non-pipeline transport project. The existing infrastructure has capacity for up to 10 million tonnes of storage annually with first injection expected by 2030.
• Renewable Power: Veri is advancing an onshore wind project at SVT targeting first electrons in 2027-2028 that will leverage the Shetland Islands high wind capacity factor. Longer-term Veri is evaluating a number of renewable power, electrification projects at the terminal and beyond.
• E-Fuels & Hydrogen: Developing sustainable fuels derived from renewable energy and captured CO₂, providing alternatives for hard-to-abate sectors such as aviation and shipping.
With EnQuest’s expertise in asset management and operational efficiency at SVT, Veri Energy is uniquely positioned to deliver cost competitive and scalable decarbonisation solutions.
Veri Energy is committed to collaborating with industry partners, government stakeholders, and local communities to drive innovation and create long-term value. Through these efforts, the company is playing a pivotal role in shaping the future of sustainable energy in the UK and beyond.
Storegga
Storegga is an independent developer of full-chain, low-carbon solutions including industrial carbon capture & storage (CCS), and hydrogen. Focused on helping industrial emitters reduce their carbon impacts we develop projects that encourage clean growth and contribute to a net zero economy.
Our founders were integral to the earliest work on carbon capture and storage in the UK. Since 2007 we have been leveraging experience from the offshore oil and gas sector to screen, identify and develop safe geological storage for industrial carbon dioxide (CO2) emissions. We are the lead developer of Acorn CCS – a transportation and storage system which reuses oil and gas infrastructure to transport CO2 emissions from industrial capture projects in the Scottish Cluster. Acorn CCS will use geological storage sites 2.5 km under the North Sea and approximately 100 km offshore from St. Fergus in Aberdeenshire, Scotland.
Storegga is a private company backed by Macquarie Group, GIC, Mitsui & Co. Ltd., M&G Investments, and Snam. We have a presence in the UK, Europe, North America and Singapore.
StoreCO2 UK Limited
storeCO2 UK Limited is a UK-based carbon management provider pioneering an innovative, end-to-end solution for CO₂ collection, shipping, and storage. Our unique marine technology provides the least complicated, lowest-cost, and fastest-to-market CO₂ disposal system, helping industries meet their net zero targets. In connecting remote land-based emitters with offshore storage sites, our company purpose is to ensure there are choices for all our clients, no stranded emitters, and no stranded storage capacity.
Headquartered in Aberdeen—a global hub for offshore and subsea engineering—storeCO2 is strategically positioned to leverage industry expertise to deliver optimised supply chain solutions. While our primary focus is supporting clients in the UK, our technology and expertise are adaptable for global markets.
At the core of our innovation is a first-of-its-kind 3-in-1 CO₂ ship, integrating liquefaction, transport, and injection directly onboard. This breakthrough eliminates the need for onshore liquefaction plants, onshore storage and offshore processing, reducing supply chain complexity, contamination risks, and costs. Our ships, powered by clean net zero integrated energy systems, operate with minimal port requirements and a wide operating tolerance to ensure we meet the needs of our clients.
storeCO2’s patented technology unlocks carbon export routes for stranded emitters and enables CO₂ storage in non-pipeline-connected reservoirs, including depleted hydrocarbon fields and saline aquifers. Our technology is scalable from river barges to ocean going vessels. We can also provide both a milk-round service and offload connection to existing hubs.
With flexible economic models—including both merchant and government-backed contracts—we provide a scalable, cost-effective CO₂ removal solution. Whether collecting CO₂ from power utilities or delivering to offshore storage sites, storeCO2 offers the most efficient path to large-scale carbon disposal.
With storeCO2, the future of carbon transport and storage is here—delivering solutions at the right place, at the right time.
Spirit Energy
Spirit Energy is a pioneering energy company with two shareholders: Centrica plc (69%), and Stadtwerke München GmbH SWM (31%). It operates in the UK and the Netherlands, with a 600-strong team, and 18 producing field interests.
It’s portfolio and ambitions span the breadth of the energy transition. It is continuing to break new ground, collaborating, and thinking differently. The company’s strategy is focused on safely delivering production from existing assets; meeting and de-risking decommissioning obligations and pursuing strategic energy transition opportunities from existing assets.
With its Peak Cluster partners, Spirit is developing the Morecambe Net Zero carbon storage project, transforming the depleted East Irish gas fields into the largest store in Europe with one billion tonnes of storage capacity. It will store carbon emissions from the Peak Cluster which accounts for 40% of the UK’s cement and lime production. The Peak Cluster is being backed with investment from the National Wealth Fund.
Spirit is proud of its heritage. With more than 40 years of production, it is maximising the potential of existing assets and substantial gas reserves in the UK and Netherlands. Above all, its people live by their commitment to safety in everything they do. Its portfolio is predominantly gas (96%), providing vital, primary energy to fuel homes and businesses in the UK and Europe.
Shell plc
Shell is an international energy company with expertise in the exploration, production, refining and marketing of oil and natural gas, and the manufacturing and marketing of chemicals. Our strategy is to strengthen our position as a leading energy company by providing oil and gas and low-carbon energy as the world’s energy system changes. Safety and social responsibility are fundamental to our business approach. Shell’s purpose is to power progress together with more and cleaner energy solutions. We believe that rising standards of living for a growing global population are likely to continue to drive demand for energy, including oil and gas, for years to come. At the same time, technology changes and the need to tackle climate change means there is a transition underway to a lower-carbon, multisource energy system.
Shell at a glance in 2018:
70+ countries we operate in
82,000 employees on average
71 million tonnes of LNG sold during the year
21 refineries we have interests in
3.7 million barrels of oil equivalent we produce per day
PETRONAS Global
Petroliam Nasional Berhad (PETRONAS) is a global energy company committed to producing and delivering energy and solutions needed to advance society responsibly and sustainably. With over 50,000 employees and a global reach spanning over 100 countries, we are ranked among the world’s largest corporations by revenue in Fortune Media IP Ltd’s 2023 Fortune Global 500® list.
As Malaysia’s national oil and gas company, we safeguard and manage the nation’s hydrocarbon resources. Our aim is to maximise value through our integrated business model to meet the energy needs of the nation and our customers across the globe. Our portfolio includes oil and gas, petrochemicals, petroleum products, as well as a range of cleaner energy solutions.
Ensuring sustainability is pivotal to the PETRONAS Energy Transition Strategy. Through this strategy we seek to support energy security, capture new growth opportunities and achieve net zero carbon emissions by 2050. In support of this, we strive to be a valuable partner to our stakeholders in transitioning to a lower carbon energy future in a just and responsible manner.
We are committed to achieving net zero carbon emissions by 2050 through four decarbonisation levers – zero routine flaring and venting, energy efficiency, electrification and carbon capture and storage (CCS). We are establishing three CCS hubs in Malaysia in an effort to position Malaysia as a leading CCS solutions hub in Southeast Asia. Our Kasawari project, operational in 2026, will be one of the largest offshore CCS projects in the world and has been identified as one of the 10 flagship catalyst projects in the Malaysian Government’s National Energy Transition Roadmap.
Perenco
Northern Endurance Partnership (NEP)
The Northern Endurance Partnership (NEP) is developing the onshore and offshore infrastructure needed to transport CO₂ from carbon capture projects across Teesside and the Humber – collectively known as the East Coast Cluster – to secure storage under the North Sea. This infrastructure is crucial to achieving net zero in the UK’s most carbon-intensive industrial regions.
NEP, via the Endurance saline aquifer and adjacent stores, has access to up to 1 billion tonnes of CO₂ storage capacity. The Endurance aquifer is a large, well-characterised reservoir in the southern North Sea, and CO₂ injection into saline aquifers has been proven worldwide as a safe and secure concept. NEP holds a storage licence for the Endurance Store, as well as three expansion licences that allow for appraisal of up to five stores in total.
NEP is an incorporated joint venture established solely to develop and operate CO₂ transportation and storage infrastructure on behalf of its shareholders: bp, Equinor and TotalEnergies.
Construction is due to begin in 2025, and more than 50% of the £4 billion announced for engineering, procurement and construction contracts will be delivered through the UK supply chain. The East Coast Cluster and NEP together are enabling thousands of high-quality construction jobs locally and have the potential to support an average of 25,000 jobs per year between 2027 and 2050.
The NEP’s work is an essential and integral component of the UK’s strategy for achieving its net-zero targets and is supported by the government via the Transport & Storage Regulatory Investment (TRI) regime – a framework that unlocks private investment in long-term infrastructure by providing incentives and protections in developing a nascent CCUS market.
Harbour Energy
Harbour Energy is the largest London-listed independent oil and gas company. We have a leading position in the UK as well as interests in Indonesia, Vietnam, Mexico and Norway.
Across our diversified portfolio of interests, we have around 1,700 employees and produce c. 200,000 barrels of oil equivalent per day. Our portfolio holds a balance of oil and gas resources, with 90 percent of our production and 93 percent of our reserves in the UK.
Our priority is to run safe and reliable operations, while protecting our people, assets and the environment. Across our operations, we are committed to achieving Net Zero greenhouse gas emissions by 2035.
Harbour Energy was founded by private equity firm EIG Global Energy Partners in 2014 with a strategy to acquire conventional, cash generative, producing assets outside of North America. In 2017, Harbour made its first acquisition by backing Chrysaor Holdings Ltd, a UK oil and gas operating company, to acquire a package of UK North Sea assets from Shell for $3 billion and, in 2019, acquired ConocoPhillips UK North Sea for $2.7 billion.
In 2021, through a reverse takeover Harbour merged Chrysaor Holdings plc with Premier Oil plc to create Harbour Energy plc.
