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Shell pulls out of large carbon capture project in northern England

Shell pulls out of large carbon capture project in northern England

By Ron Bousso and Susanna Twidale: 25 April 2023

LONDON (Reuters) -Shell has decided to pull out of the Northern Endurance Partnership, one of Britain’s largest carbon capture and storage (CCS) projects aimed at decarbonising industrial clusters.

Shell said it had decided to pull out of the NEP project after a review of its strategy and portfolio and will focus on the Acorn CCS project in Scotland, for which it is the technical developer.

“We remain committed to helping the (British) government realise its ambition of four industrial CCS clusters by 2030,” the company said.

Shell Chief Executive Wael Sawan has carried out a review of several of the group’s emerging low-carbon businesses since taking office in January.

NEP confirmed that Shell and National Grid have relinquished their equity holdings, which have been acquired by existing project partners BP and Equinor. France’s TotalEnergies is also a partner in the project.

(Reporting by Ron Bousso and Susanna TwidaleAdditional reporting by Shadia NasrallaEditing by Kirsten Donovan and David Goodman)

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