Neptune Energy signs agreement on UK blue hydrogen scheme
Private equity-backed operator Neptune Energy has signed a series of new agreements to move forward with its proposed blue hydrogen and carbon dioxide transport and storage scheme on the east coast of England.
The company entered into a memorandum of understanding with an unnamed organisation specialising in industrial gas generation for the development of the blue hydrogen plant, which would be located at the former Theddlethorpe Gas Terminal (TGT) site in Lincolnshire.
It has also signed a separate MoU with private equity-backed PX Group, which would operate a newly constructed powerplant for the blue hydrogen facility, and would act as an investor in the development.
Already serving CO2 emitters in the South Humber area, Neptune has introduced the option to ship CO2 to several blocks in the Southern North Sea.
Using the working title of “DelpHYnus”, Neptune said its proposed development is well placed to deliver an operational carbon capture and storage (CCS) hub by 2025 for shipped CO2 and large-scale blue hydrogen generation as early as 2027.
Furthermore, it has signed further MoUs with Carbon Collectors, a company specialising in the collection, transport, and storage of CO2 using marine-based solutions, and with a power generation company that would have its emitted CO2 stored by Neptune.
The company submitted an application to the Oil & Gas Authority (OGA) regulator in May this year, covering several blocks in the southern North Sea located to the south and south-west of the Neptune-operated Cygnus gas field.
Pierre Girard, Neptune’s director of new energy, said the project had evolved: “Our experience in delivering offshore projects which are technically similar to the CCS offering at DelpHYnus is complemented by the expertise of our partners and, as one of the UK’s lowest carbon gas producers, we are well placed to develop this project at pace with the potential to deliver an operational CCS hub as early as 2025 for shipped CO2 and large scale blue hydrogen as early as 2027, helping meet the ambitions set by the UK government in its 10-point plan.”
For more information visit www.neptuneenergy.com
19th July 2021
