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Concluding remarks
Evidence for climate change and its potentially catastrophic effects on the world is becoming clearer year on year. Hydrocarbon output from the North Sea is in decline and world oil and gas markets have proved highly volatile over the last couple of years. Carbon Capture and Storage offers Scotland greener energy and can help improve security of energy supplies through delivering increased choice in energy sources.
This study has examined current and future CO 2 output in Scotland and north-east England and it is clear that a significant percentage of industrial emissions could be captured and stored in geological structures. The study has identified significant potential CO 2 storage resources offshore but notes that at this stage there is a need for further study to determine the amount of storage that will be available in practice. Technically feasible ways to transport CO 2 from key onshore CO 2 emission sites to offshore storage sites have been identified.
The study has shown that the financial costs for initiating CCS will be high but are comparable with the current costs of commercial renewable energy sources. In a similar way to the renewable energy industry financial support is also crucial for CCS to commence in Scotland. Recent history has shown that carbon prices are volatile and subject to market forces which recently have seen the value of the EU permit to emit one tonne of CO 2 drop to around € 10 (~£8). Carbon prices need to be stable and high over the long term in order for large-scale CCS to be self financing. Timely initiation of CCS will bring advantage to the Scottish economy by establishing this country as a leader in CCS technology and skills - as well as making a major contribution to delivering Scotland's and the UK's climate change targets.
Scotland has the geology and the motivated and innovative skills base required to deliver a major CO 2 storage industry that will benefit both the Scottish economy and the world's environment. The keys to CCS becoming a reality in Scotland are political will, public acceptance, and the creation of a supportive regulatory and commercial environment that leads to investment by industry. This study makes a significant contribution to providing government, industry and citizens with a firm basis for future decisions.
This study was commissioned by the Scottish Centre for Carbon Storage (British Geological Survey (Natural Environment Research Council), Heriot-Watt University, University of Edinburgh), the Scottish Government and industry stakeholders.
The study was funded and guided by:
Accenture, Sak X Nayagam;
BG Group plc, David Jones;
CO 2DeepStore Ltd, Sam Gomersall;
ConocoPhillips ( UK) Limited, Ishfaq Ahmed;
Doosan Babcock Energy Limited, Dr J M Farley;
Hydrogen Energy International Ltd, Dewi ab Iorwerth;
INEOS Manufacturing Scotland Ltd, Dr Graham Bonner;
Marathon Oil Corporation, John R Lord;
National Grid, Alison J Beach;
Nexen Petroleum U.K. Limited, Joel Turnbull;
RWE npower, Robert Rustage;
Scottish Government, David Rennie;
Scottish and Southern Energy, John Mitchell;
ScottishPower;
Wood Mackenzie, Malcolm Ricketts.
Contributors to the study were:
AMEC plc, Alastair Rennie;
British Geological Survey, Dr M C Akhurst;
CO 2DeepStore Ltd, Sam Gomersall;
Element Energy Ltd, Harsh Pershad;
Heriot-Watt University, Professor Adrian C Todd;
James Fisher Marine Services Limited, Simon Forshaw;
Pöyry Energy Consulting, Stuart Murray;
Senergy Alternative Energy, David S Hughes;
University of Aberdeen, Professor Alex Kemp;
University of Edinburgh, Professor Stuart Haszeldine;
University of Strathclyde, Richard Bellingham.
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