UK’s Carbon Storage Plans Advance With Shell, SSE Deal

Law360, New York (July 18, 2012, 5:29 PM EDT) -- Britain has inked a deal with a project owned by oil giant Royal Dutch Shell PLC and electric utility SSE PLC to store carbon dioxide under the seabed, advancing the country’s plans to develop its first commercial carbon capture and storage facility, the project’s manager announced Tuesday.

Under the deal, the companies’ joint project, called Peterhead CCS Project, will lease part of the offshore depleted Goldeneye gas field in the North Sea from the Crown Estate, a property portfolio owned by the British monarchy which manages...
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