St Fergus project is very much part of UK’s net zero strategy

While the SNP seem desperate to assume the worst from the recent decision to designate the Scottish Carbon Capture and Storage (CCS) Cluster first reserve status in track one of sequencing, I continued to engage with project developers and the UK Government.

Thursday, 11th November 2021, 11:34 am
David Duguid met Storegga’s chief financial officer Brandon Rennet to discuss the future development of the St Fergus-based Acorn Project and the potential of carbon capture and storage.

I have been in regular contact with the project developers, Storegga, and was delighted to meet Brandon Rennet, the chief financial officer, last week.

Having already invested £31 million in the project, The UK Government are clear that the St Fergus-based Acorn Project is still very much part of the UK’s overall CCUS and net zero strategy.

Storegga themselves still project Acorn to be operational by 2026 and I will continue to work to support that.

It was also interesting – if not particularly surprising – that the SNP were nowhere to be seen in support of our seafood industry when it was being threatened by the French Government recently.

In a House of Commons debate on the subject, the SNP and others seemed to actually suggest giving the French the extra licences they demanded to fish in UK waters!

Some 1,700 licenses have been awarded in total to the European Union, including some 750 to the French, through the Trade and Cooperation Agreement (TCA) between the UK and EU, which many consider already very generous to EU fishing interests.

During the adjustment period through to 2026, the TCA allows EU vessels to fish in some – not all – parts of UK waters but only if they can show a track record of fishing there within a specific reference period.

No track record? No License.

Thankfully, the UK Government stuck to the agreement, refused to roll over and I was pleased when the French decided to back down from their proposed actions – including blocking ports and export routes, and even cutting off electricity to the Channel Islands.

• David Duguid is the MP for Banff and Buchan. His constituency office can be contacted on 01261 818744, or email [email protected] For more information, see his website www.davidduguid.com.