Carbon capture, usage and storage: a vision to establish a competitive market
This document sets out government’s vision for the UK CCUS sector in the 2030s.
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This document sets out the government’s vision for the UK CCUS sector in the 2030s, which involves:
- making the UK a global leader in CCUS
- creating a self-sustaining CCUS sector that supports thousands of jobs
- reducing emissions to ensure a better environment for future generations
Its purpose is to increase investor confidence in the UK’s CCUS market.
The economic opportunities from CCUS are huge, with significant investment in CCUS projects creating up to 50,000 jobs in the UK. In addition, tapping into our North Sea resources and assets will help us maximise the economic opportunity that the transition to net zero brings.
We will make this vision a reality through the development of a CCUS market, where we envisage the respective role of government and industry evolving over time. We see this happening in 3 stages:
1. Market creation: Getting to 20 to 30 Mt CO₂ by 2030
2. Market transition: The emergence of a commercial and competitive market
3. A self-sustaining CCUS market: Meeting net zero by 2050