Saipem wins projects UK carbon projects worth €650 million

Saipem wins UK carbon projects worth €650 million

TEESSIDE, December 12, 2024 – Saipem has won two CO2 transportation and storage projects in the UK valued at EUR 650 million, the company announced on Thursday.

The Italian EPC player will support the development of offshore facilities for the transportation and storage of CO2 in the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT) projects – part of the UK’s East Coast Cluster of carbon projects.

The scope of work includes the EPCI of 143 kilometres of 28-inch offshore pipeline with associated landfalls and onshore outlet facilities for the NEP project and EPCI for the water outfall for the NZT project.

The project duration will be 30 months.

The offshore installation of the pipeline will be performed by Saipem’s flagship vessel Castorone, and the nearshore operations will be performed by the company’s shallow-water pipelay vessel Castoro 10.

On Tuesday, the UK government issued the country’s first-ever carbon storage permit for the NEP, which is operated by a joint venture of BP (45%), Equinor (45%) and TotalEnergies (10%).

The NEP’s site is located off the coast of Teesside, northeast England, and has the potential to store up to 100 million tonnes of CO2.

In October, the UK government unveiled a plan to invest GBP 21.7 billion in the NEP project and Eni’s Liverpool Bay carbon transport and storage venture.

Photo of the Castorone courtesy of Saipem.