Carbon Herald just published UK’s Crown Estate Seabed Lease Clears Way For Liverpool Bay CCS Project.
Carbon Herald reports that Liverpool Bay CCS Limited has signed a seabed lease agreement with The Crown Estate, removing a major regulatory and property-rights barrier for the proposed carbon capture and storage project off the coast of North Wales and northwest England. The lease covers the offshore area intended for CO2 injection and permanent storage in depleted gas fields. The project is part of the HyNet North West cluster, one of the UK government’s priority industrial decarbonisation programmes. The agreement is described as a milestone that allows development activities to progress toward final investment decisions and construction.
Our take (Heads-up): A seabed lease is a real procedural step, but it is not the same as financial close or a working injection well. The harder questions remain around final costs, government revenue support terms, and whether depleted gas field integrity holds up under long-term CO2 injection. Worth tracking, not celebrating yet.
-> Read the full piece at Carbon Herald
Captain Drawdown is flagging this. The reporting is Carbon Herald’s. Go read them directly, not a rewrite from us.
Source: Carbon Herald