Britain’s trade body for the offshore energy industry, Offshore Energies UK (OEUK), has deemed the UK’s backing of carbon capture, usage, and storage (CCUS) projects as an important step for the domestic offshore energy industry, as the country works to bankroll its transition from oil and gas to low-carbon technology.

The UK’s announcement of new funding for two carbon capture and storage (CCS) projects is seen as an important move towards final investment decisions (FIDs) for the Acorn CCS project in Northeast Scotland and the Viking project on Humberside, alongside the expansion of existing carbon capture projects on Teesside and Merseyside.