AN ambitious roll-out of carbon capture and storage (CCS) technology would create a market worth up to Pounds 35bn by 2030 and create thousands of jobs, a new report has revealed. The study from the TUC union and the
Teesside could be home to the
The new report says CCS can play a "vital role" in helping the
It has been estimated that without CCS, the cost of meeting this target will rise by Pounds 30-40bn per year.
TUC general secretary
TVU's Catchpole "New CCS plants would create thousands of new jobs and safeguard many more in energy intensive industries such as steel, chemicals and cement. This is a great opportunity to re- invigorate our manufacturing sector and bring new R&D, design and construction jobs to areas like
On Teesside Government funding will be used to fund an initial study, or pre-FEED [Front End Engineering and Design] into a pipeline.
It's the first Government-supported industrial CCS scheme in the
"Our Tees Valley City Deal demonstrates a commitment from Government which will enable us to fund a detailed business case for a local CCS project and we met with industry partners and stakeholders just last week to help identify the timelines for taking this business case forward.
"An industrial CCS model for Tees Valley will further promote Teesside's attractiveness in a globally competitive market supporting companies already here and bringing in further international investment and job opportunities."
The TUC/CCSA report also said each new-build CCS power plant would generate between 1,000 and 2,500 jobs in construction, with a further 200-300 jobs in operation, maintenance and the associated supply chain.
The total economic benefits of CCS could reach Pounds 2-Pounds 4bn per year by 2030.
Chief executive of the CCSA, Dr
"Respected international and
He added: "The
"Now is the time for the
AN ambitious roll-out of carbon capture and storage (CCS) technology would create a market worth up to Pounds 35bn by 2030 and create thousands of jobs, a new report has revealed.
The study from the TUC union and the