HomeBusiness NewsEssar Oil projects in UK govt’s carbon capture plan

Essar Oil projects in UK govt’s carbon capture plan


NEW DELHI: The UK government has included Essar Oil UK’s low-carbon hydrogen production and carbon capture projects in its carbon capture, usage and storage cluster sequencing programme, the company said in a statement on Monday.
The UK-focused company, promoted by the Mumbai-based Ruia family, proposes to build the two projects at its Ellesmere Port site in Cheshire, the company said.
A separate statement quoted Essar director Prashant Ruia as saying the company will strive to lead in transitioning to a cleaner and sustainable pathway for creating value for stakeholders.
“Let us now resolve to lead the country into the new economy, the same way we did post-liberalisation of the old economy. Let us resolve to invest 1 per cent of the total capital expenditure of the country as we have done earlier. It is now time to gain greater global presence, both as India and as Essar,” the statement quoted him as saying at a function to mark the diamond jubilee of India’s independence.
The Ellesmere hydrogen plant will help Essar deliver its goal of producing 3.8GW (gigawatts) of low-carbon hydrogen by the end of the decade – almost 40% of the Government’s recently extended target of achieving 10GW capacity by 2030.
Part of HyNet, the plant is being built by Vertex Hydrogen and will significantly reduce CO2 emissions every year. The project will also create thousands of new jobs in the North West and North Wales.
The installation of industrial carbon capture technology at the company’s Stanlow refinery will enable direct capture of more than 800,000 tonnes of CO2 per year.
The two projects form part of the company’s £1 billion investment in a range of energy efficiency, low carbon energy and carbon storage initiatives designed to decarbonise production processes and put Essar at the forefront of the UK’s shift to low carbon energy.





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