Scotland’s flagship Acorn carbon capture and storage (CCS) project has entered a period of renewed uncertainty after key backer Storegga announced plans to sell its stake in the development.
The decision, which follows a strategic review of the company’s capital needs, raises concerns over the future of an initiative long expected to safeguard up to 18,000 North Sea jobs.
Storegga said the project is entering a far more capital-intensive phase, making it better suited for a new long-term owner. “We have concluded that a new long-term owner would be better placed to take the project forward,” a spokesperson said.
The announcement comes on the heels of another setback: National Gas, responsible for building the CO2 pipeline feeding St Fergus, confirmed that none of the £200 million ($267 million) pledged by the UK Government for Acorn has yet reached the project. As a result, essential design work, expected to take two years, remains on hold.
Job Impacts Mount as Delays Deepen
The potential implications for the north-east workforce are significant. Analysis from the Confederation of British Industry shows the pipeline alone could support over 14,000 construction jobs, 617 design and planning roles, and nearly 180 permanent operational positions once complete.
Acorn, positioned as a cornerstone of Scotland’s decarbonization pathway, is expected to transport CO2 from industrial hubs such as Grangemouth and Mossmorran, storing emissions in depleted oil and gas reservoirs beneath the North Sea.
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Despite the turbulence, Storegga says work continues while a buyer is sought. Both National Gas and the UK Government stressed their continued support.
“This commercial decision by Storegga Ltd has no bearing on the commercial viability of the Acorn CCS project,” a government spokesperson said, adding that securing a new owner remains a priority to “create thousands of jobs and drive industrial renewal in Scotland.”
Read more: UK Pledges $270M For Acorn Carbon Capture Project In Scotland
