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UK Carbon Storage License Awards: What Does it Mean for Shipping?

28/11/23

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In 2019, the UK government committed to a 100% reduction in greenhouse gas emissions by 2050 compared to 1990 levels. This net zero target, aimed at tackling climate change, has prompted significant developments in the country’s carbon capture and storage (CCS) efforts. In September 2022, the latest round of NSTA licence applications closed, with the details of awarded licences confirmed in September 2023. These licences have far-reaching implications, particularly for the shipping sector. This article looks at what these licences mean for the maritime industry and delves into the challenges facing the development of CCS projects in the UK, in particular focusing on the vital role played by the shipping industry...

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