Northern Endurance Partnership

We are proud to have acted as exclusive Financial Advisor, MLA, DLA and hedging bank to the Northern Endurance Partnership (NEP) and the Net Zero Teesside (NZT) Power, the first project financed carbon capture and storage projects globally. Both projects represent the largest project financings in the UK over the last several decades, with a combined value of around £8bn. They are central to developing the UK's East Coast Cluster (ECC), located in the Northeast of the UK. NZT Power is a gas-fired power plant with carbon capture technology and NEP will provide CO2 transportation and storage infrastructure for ECC projects. The projects significantly contribute to the UK’s net zero efforts and highlight Societe Generale's goal to support large-scale projects that drive the transition to a low-carbon economy. Read more here: https://lnkd.in/evTYqBHc

Chris Daykin, Director of the Northern Endurance Partnership, reflects on announcing financial close and entering into the execution phase of the project 👇 

Wood continues to support the next phase of a world-leading decarbonisation project with Net Zero Teesside Power and Northern Endurance Partnership, integral to helping the UK achieve its carbon reduction targets. 🎯 #TeamWood will provide specialist support for this landmark carbon capture and storage project, including project and construction management, engineering and technical assurance, information management and digital systems integration across all nine contractors. Building on our concept, pre-front end engineering design (pre-FEED) and front-end engineering design (FEED) delivery, we are proud to support the full lifecycle of the project, which will result in the world’s first gas-fired power station with carbon capture. Discover more about our role in the Net Zero Teesside project ➡ https://lnkd.in/g2RGNFYw #CarbonCapture #NetZero #NetZero

A major milestone Today, together with our project partners, we announced financial close after taking a Final Investment Decision (FID) to progress two of the UK’s first carbon capture and storage (CCS) projects in Teesside.  It is a proud day for the region, for our teams, for Equinor and for our partners. And is a bold step forward by the UK government in pursuing a pragmatic approach to decarbonisation.     A lot of hard work over many years has gone into this; and strong collaboration with bp and TotalEnergies on the Northern Endurance Partnership (NEP) and with bp on Net Zero Teesside Power (NZTP).    This next step means we can bring our commercial CCS expertise from Norway to help develop these first-of-a-kind low carbon projects.    It means we can help to decarbonise the country’s industrial heartlands whilst providing high quality jobs and important supply chain opportunities.    Read more here: https://lnkd.in/dUXhvMGG

We have signed contracts with the CCUS East Coast Cluster and construction is set to start in 2025. This marks a major milestone for our new industry following the funding announcement in October. 2,000 jobs will be supported initially with tens of thousands more to follow in the next few years. This shows what happens when ambition, innovation and investment come together. Find out more: https://lnkd.in/gzTkTVDJ

Really pleased to share that the Northern Endurance Partnership CO2 transportation and storage project - the UK’s first CCS project - is moving into the execution phase, with building work expected to begin in mid-2025.    We hold a 10% stake in NEP which will permanently store up to an initial 4 million tonnes of CO2 after start-up in 2028. The carbon will come from projects in Teesside, one of the UK’s largest industrial regions, with future expansion opportunities notably in the Humber area.   Our stake in NEP contributes to TotalEnergies’ aim to develop significant CO2 storage capacity in the North Sea, where we can leverage our experience in operations and geoscience. This is a great milestone for the UK CCS sector and we’re delighted to be part of it.   Read the full press release here: https://lnkd.in/eBTmSZxS

In a hugely significant step on the journey to net zero, we have awarded the UK’s first ever carbon storage permit to the Northern Endurance Partnership of bp, Equinor and TotalEnergies. 📽️ To find out more about this important milestone, watch the video and read our announcement: https://lnkd.in/e53ST_6B Stuart Payne CBE | Alistair Macfarlane | Andy Lane | Department for Energy Security and Net Zero | 10 Downing Street | Keir Starmer | Carbon Capture and Storage Association | Grete Tveit | Alex Grant | Ian Barron | Zoe Sayer | Gavin Ross | Alex Milward | Arnaud Le Foll | Ofgem | Beatrice Filkin | Nicolas Payer #CCS #carbonstorage #energytransition #netzero

📢 Carbon capture in Teesside reaches another milestone in journey towards deployment!  🔹 Today, Net Zero Teesside Power (NZT Power) and the Northern Endurance Partnership (NEP) have reached financial close. This is fantastic news for the CCUS industry in the UK and a major step forward in the fight against climate change. 🔹NZT Power is set to be the world’s first commercial-scale gas-fired power station with carbon capture technology. It will support heavy industry decarbonisation, generate 742 MW of low-carbon electricity—powering over 1 million UK homes—and capture up to 2 million tonnes of CO₂ annually. 🔹This news comes at a crucial time as the UK announced at COP29 last month a target of cutting emissions by 81% by 2035, while the Prime Minster last week recommitted to the clean power by 2030 target.  🔹If the UK is to meet these targets, in line with the Climate Change Committee (CCC) ambition for the UK to capture and store 20-30 million tonnes (Mt) of CO₂ per year by 2030 to meet our Carbon budgets, CCUS needs to be deployed at scale. 🛠️ The CCSA urges the Government to continue to prioritise clusters and projects, particularly as countries around the world are competing with the UK for investment to build CCUS.  A number of CCSA members are involved in Net Zero Teesside Power, including bp, Equinor, TotalEnergies, Shell, GE Vernova, Costain Group PLC & Wood. 📃 Read the CCSA's full press release here: https://lnkd.in/gQEbPfth 🗨️ Read CCSA CEO Olivia Powis’s quote below 👇 #CCUS | #CarbonCapture | #NetZero

Together with our project partners bp and TotalEnergies we’re happy to announce financial close after making a final investment decision on two of the UK’s first carbon capture and storage (CCS) projects 🇬🇧 The Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power) are part of the East Coast Cluster (ECC), one of the UK Government’s first selected CCS clusters. The NEP could transport and store up to 4 million tonnes of captured CO2 emissions per year from three Teesside projects initially, and potentially rise to an average of 23 million tonnes of CO2/year by 2035 with future ECC expansion. NZT Power will be a first-of-a-kind gas-fired power plant with carbon capture. It will have the capacity to generate up to 742 MW of decarbonised, flexible power – equivalent to the average electricity demand of around 1 million UK homes ⚡️ With an estimated start-up date from 2028, the Humber and Teesside regions will benefit from an influx of green jobs, skills development and supply chain benefits due to these projects – supporting thousands of jobs each year. These projects demonstrate how the industry and UK Government have progressed a model for new power supply and CCS services to decarbonise the most carbon-intensive region in the UK. Find out more ➡️ https://lnkd.in/dFXWQqg5

Greenlight for Teesside CO2 transportation and storage infrastructure ✅ Today we are giving the green light to proceed to the execution phase of the CO2 transportation and storage infrastructure that will serve three initial carbon capture projects on Teesside: NZT Power, H2Teesside and Teesside Hydrogen CO2 Capture. - We expect to commence construction from the middle of 2025 with start-up expected in 2028🛠️   - The infrastructure will transport and permanently store up to an initial 4 million tonnes of CO2 per year. 🏭   - Built alongside NZT Power by nine leading EPC contractors across eight contract packages with a combined value of around £4bn 💷   - Future expansion of the East Coast Cluster across Teesside and the Humber could enable the transportation and permanent storage of up to an average of around 23 million tonnes of CO2 per year from future selected carbon capture projects - helping the East Coast Cluster create and support an average of 25,000 jobs per year. 🗓️ Read the full story here ➡️https://lnkd.in/eMVcGANW