Low carbon: Essar Oil to build £360 million carbon capture facility in UK
Mumbai: Essar Oil UK Ltd (EOUK) on Wednesday announced to build a £360 million major new carbon capture plant at its Stanlow Refinery in the United Kingdom as part of its strategy to become a leading low-carbon refinery by 2030.
Essar is investing over £1 billion into a range of energy efficiency, fuel-switching, and carbon capture initiatives, designed to decarbonize its production processes significantly by 2030 and put Essar at the forefront of the UK’s shift to low-carbon energy, the company said in a statement.
The firm will achieve its decarbonization targets through a combination of incremental (energy efficiency and operating improvements) and transformational projects, including the £360 million carbon capture plant, but also because of the significant investments into hydrogen and biofuels.
Once complete in 2027, the plant will eliminate about 0.81 million tons of carbon dioxide annually–the equivalent of taking 400,000 cars off the road, eliminating nearly 40 percent of all Stanlow emissions.
Deepak Maheshwari, CEO of Essar Oil UK said: “This new carbon capture plant is the single biggest initiative to decarbonize our processes and is a core element to our ambitious decarbonization strategy.”
(VP)
