{"id":15950,"date":"2023-11-28T08:30:05","date_gmt":"2023-11-28T08:30:05","guid":{"rendered":"https:\/\/www.westwoodenergy.com\/?p=15950"},"modified":"2025-03-18T13:45:53","modified_gmt":"2025-03-18T13:45:53","slug":"the-uks-1st-carbon-storage-licensing-round-full-results-analytical-report","status":"publish","type":"post","link":"https:\/\/www.westwoodenergy.com\/reports\/the-uks-1st-carbon-storage-licensing-round-full-results-analytical-report","title":{"rendered":"The UK’s 1st Carbon Storage Licensing Round Full Results Analytical Report"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]On 15 September 2023, the NSTA announced the 14 companies that have accepted the 21 awarded licences in the UK\u2019s 1st Carbon Storage Licence Round. The results of the Round saw both an expansion of existing carbon storage projects as well as adding several new projects. Westwood forecasts that if all projects can achieve their proposed timelines and secure a source of CO\u2082 to inject, then the UK could achieve its 2030 and 2035 targets. However, not every project will progress to a Storage Permit application, some projects will be delayed, while others will under-deliver.<\/p>\n

Westwood’s 35-page analytical report provides a full review of the awards and explores some of the key risks and challenges the industry faces.<\/p>\n

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