Net Zero Future Given Major Boost By Scottish Government
A multi-million pound fund to support businesses in the oil, gas and energy sectors in the over the next five years has been announced by The Scottish Government (12 June 2020). The investment underpins the ambitions to become a world leader in the transition to net zero.
North East of Scotland projects being considered for funding include a Global Underwater Hub in Aberdeen focused on helping the subsea and underwater sector grow with a focus on diversification and export support.
A new Energy Transition Zone business park adjacent to the Aberdeen South Harbour is also included in the plans as well as a range of innovation projects led by Oil and Gas Technology Centre’s Net Zero Solution Centre.
The fund will play a significant role in positioning the North East of Scotland as a hydrogen model region and will contribute to ACORN Hydrogen, located at the St. Fergus gas terminal. ACORN Hydrogen seeks to produce hydrogen from natural gas and the linked ACORN CCS project would capture and store the CO2 safely and permanently in North Sea reservoirs.
It is also expected that the fund will support the use of green hydrogen in the transport sector.