Tank, Ports Partner to Develop EU CCS Shipping Corridor

LBC Tank Terminals, Associated British Ports and the North Sea Port have signed a Memorandum of Understanding to develop a Carbon Capture and Storage (CCS) terminal and shipping corridor connecting northwest Europe with the U.K to decarbonize shipping, LBC Tank terminals said in a news release on Monday.

This project will enable captured carbon from industrial regions to be transported to storage, decarbonizing energy generation and heavy industry and creating a new cross-border market for carbon.

The partners will work on port infrastructure for handling carbon, storage and shipping as well as build a transport value chain between the Associated British Ports Humber Ports and North Sea Port.

“This is not just about reducing emissions – it’s about creating a new market for carbon shipping that will help Europe meet its climate goals and secure industrial competitiveness at pace,” said Henrik Pedersen, CEO of Associated British Ports in the news release.

LBC has operational expertise and infrastructure for temporary storage and shipment of captured carbon, while Associated British Ports will offer U.K. storage capacity via the planned Carbon CCS terminal at the Port of Immingham.

Reporting by Stacy Maphula, smaphula@opisnet.com; Editing by Rob Sheridan, rsheridan@opisnet.com