Ineos and Petroineos own one of the largest manufacturing sites of Scotland

British chemical firm Ineos and Petroineos have signed a memorandum of understanding (MoU) to join the Acorn CCS Project, Scotland’s first carbon capture and storage (CCS) system.

The MoU was signed by Ineos Chemicals Grangemouth, Ineos FPS, and Petroineos with Acorn CCS partners Storegga, Shell, and Harbour Energy.

Ineos and Petroineos own one of the largest manufacturing sites in Scotland, at Grangemouth.

The investment at the Grangemouth site will allow the annual capture and storage of approximately one million tonnes of CO2 by 2027, with the scope for significant additional volumes.

By 2027, the Acorn CCS system will link the industrial heartland to the Acorn CO2 transport and storage hub in North East Scotland.

The project is expected to store up to 10 million tonnes per year of CO2 from a variety of industrial sources by 2030.

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Ineos Grangemouth chairman Andrew Gardner said: “INEOS and Petroineos at Grangemouth recognise the importance of reducing greenhouse gas emissions from our industrial processes. As one of Scotland’s largest manufacturers and employers, we acknowledge that we are operating a CO2 intensive industry and we have a significant role to play in helping Scotland reach its ‘Net Carbon Zero’ target by 2045.

“Once operational, the carbon capture and storage system will provide an essential route to permanently and safely capture and store CO2 emissions for large industrial emitters throughout Scotland, with significant positive impact for climate change and the country.”

Located at the St Fergus gas terminal in North East Scotland, the Acorn CCS aims to make use of existing oil and gas pipelines to take CO2 directly to the Acorn CO2 Storage.

The first phase of the project would see the capturing of around 300,000 tonnes per year of existing CO2 emissions from the St Fergus gas terminal.

It will be dried, compressed, and sent through the Goldeneye pipeline for injection into the Acorn CO2 Storage Site.