Staff of Reuters ReadSlideshowSlideshowSlideshowSlideshowSlideshow ( 2 images ) (Reuters) – LONDON (Reuters) – INEOS, the world’s largest chemical company, announced on Friday that it will collaborate with the Acorn carbon capture and storage project to construct Scotland’s first carbon capture and storage system. According to some scientists, technology to capture and store carbon dioxide (CO2) emissions will be required to reach the Paris Agreement’s climate targets of limiting global warming to 1.5 degrees Celsius, but there are few large-scale projects in the works. INEOS said it will look into possibilities for emissions from its Grangemouth petrochemicals plant and oil refinery, which is run by Petroineos, a joint venture between INEOS and Petrochina. “The carbon capture and storage system will provide a crucial avenue for large industrial polluters throughout Scotland to permanently and safely absorb and store CO2 emissions,” INEOS Grangemouth Chairman Andrew Gardner said. The Acorn project, which is being developed by Storegga in collaboration with Shell and Harbour Energy, aims to store CO2 beneath the North Sea. INEOS also announced this month that it would purchase 25 million pounds worth of shares in clean hydrogen startup HydrogenOne Capital Growth when it goes public on the London Stock Exchange. Susanna Twidale contributed reporting, and Alexander Smith edited the piece./n
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