Perenco UK received a carbon storage license from the North Sea Transition Authority’s first competitive carbon capture and storage (CCS) license round to progress the Poseidon project in the Southern North Sea sector of the UK Continental Shelf.
Perenco and Carbon Catalyst Ltd. have partnered on Poseidon, a carbon storage project in the Perenco-operated Leman gas field. Leman, in the Southern North Sea sector of the UKCS, offers a mixture of depleted gas reservoirs and saline aquifers in which to permanently store recovered CO2.
The project, which has the potential to significantly decarbonize East Anglia, Greater London, and the wider southeast UK, is due to come online by 2029. Initial CO2 injection rates will be about 1.5 million tonnes/year (tpy), ramping up to 10 million tpy by 2030, and peaking at 40 million tpy by 2040.
The field is connected to the Perenco-operated Bacton Terminal, which will receive and process CO2 offshore.
A final investment decision is expected in 2026.
