Synergia Energy On The Lookout For Partners For Medway Hub CCS project

Synergia Energy On The Lookout For Partners For Medway Hub CCS project - Carbon Herald

Synergia Energy has taken a significant step forward in their Medway Hub Camelot CCS project by conducting a pre-FEED study with Axis Well Technology and securing a carbon storage license. With these essential preliminary steps completed, the company is now actively seeking partners to collaborate on this innovative carbon capture and storage initiative located in UK waters.

The Medway Hub CCS project presents a unique opportunity for Synergia Energy to tackle climate change and reduce greenhouse gas emissions in the energy sector. 

This ambitious project aims to address the growing concern about CO2 emissions from coastal gas turbine power stations by capturing and transporting the emissions in liquid form using marine tankers to a floating injection, storage, and offloading (FISO) vessel. 

The collected CO2 will then be injected into depleted gas fields and saline aquifers for long-term storage on the UK Continental Shelf (UKCS).

Relevant: Synergia Shares Rise 13% Following Successful North Sea Carbon Capture License Application

At present, this initiative is projected to have the capability to store anywhere from 70 to 100 million tonnes of CO2, with the initial CO2 injection expected to occur in 2032.

As a result of this, Synergia Energy has decided to potentially sell up to half of its 50% stake in the CS019 license through a farm-out agreement, pending regulatory approvals, while still maintaining its position as the designated operator. Synergia Energy and its partner, Wintershall Dea, jointly possess a 50% share each in the CS019 Camelot carbon storage license situated in the Southern North Sea region of the UK.

Read more: The UK Awards 21 Carbon Storage Licenses To 14 Companies

Currently, Synergia Energy has revealed that several parties have reached out, expressing interest in collaborating on the Medway Hub project.

As the demand for clean energy solutions continues to grow, collaborations like this one are crucial for driving innovation and progress in the industry. By working together with partners who share a commitment to environmental stewardship, Synergia Energy can maximize the project’s impact and create lasting benefits for both the company and the wider community.

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