Oil and gas producers with North Sea operations will benefit from a huge windfall from the sale of surplus EU carbon credits, according to carbon-capture and storage (CCS) project developer CODeepStore
It says the same producers are also set to benefit from being awarded CO storage permits under CCS plans being drawn up by the Department of Energy and Climate Change. Sam Gomersall, of CODeepStore, said it calculated that offshore oil and gas firms would get £430million based on a CO price of about £13 a tonne.
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