Carbon capture and storage could be worth £100bn by 2050, an industry report has said, with analysts predicting the UK has enough capacity to hold two centuries’ worth of emissions.
But despite the country being well-placed to become a world leader in the technology - with the UK having large industrial clusters, extensive gas transport infrastructure and good scientific understanding - the Offshore Energies UK (OEUK) report said Britain’s supply chain was fragile.
The paper warned because of this the UK was at risk of losing the industry to more attractive opportunities abroad, and government needed to act fast to secure its future.
