Equinor, BP, and TotalEnergies have announced the final investment decision for two groundbreaking carbon capture and storage (CCS) projects in the UK. The Northern Endurance Partnership (NEP) and Net Zero Teesside Power projects are set to play a pivotal role in reducing carbon emissions and supporting Britain’s climate goals.
The NEP project, a collaboration among the three companies, will initially store up to 4 million tonnes of carbon dioxide annually. Equinor and BP each hold a 45% stake in the project, while TotalEnergies owns the remaining 10%. The initiative is designed to capture and permanently store CO₂ emissions from energy-intensive industries in northern England.
Equinor and BP are also partnering on a 742-megawatt (MW) gas-fired power plant integrated with carbon capture technology. BP owns 75% of the project, while Equinor holds 25%. The plant, set to begin operations in 2028, is projected to provide electricity to approximately one million homes while minimizing emissions through advanced CCS technology.
“This is a major milestone,” said Irene Rummelhoff, Equinor's executive vice president of Marketing, Midstream, and Processing. “Reaching final investment decisions for these projects underscores our commitment to advancing carbon capture, transport, and storage infrastructure in the UK.”
The UK government has committed up to £21.7 billion to CCS initiatives as part of its 2050 net-zero strategy. Energy Secretary Ed Miliband hailed the projects as transformative, saying, “This investment launches a new era for clean energy in Britain—boosting energy security, supporting industries, and creating thousands of skilled jobs.”
Work on the CCS projects is slated to begin in 2025. The initiatives will directly support 2,000 jobs in the northeast of England, with additional supply chain investments expected to create tens of thousands of jobs across the country. The companies plan to award £4 billion ($5.1 billion) in contracts, further driving economic growth in the region.
