Carbon capture and storage: businesses call for 'urgent signal' on Humber CCS

The fledgling technology is touted as an alternative to releasing carbon into the atmosphere, and is seen as essential to the UK reaching net zero by 2050.

Earlier this month, the Planning Inspectorate confirmed permission to build the pipeline - a major step forward in the multi-billion pound project.

Businesses say they have £15bn ready to invest in the Humber if the Government provides adequate support to get CCS off the ground.

Similar projects in Merseyside and Teesside have been granted £22bn in funding.

A final decision is expected to be made in the Government’s spending review this summer, where Chancellor Rachel Reeves will set out departmental budgets for the coming years.

VPI, the company behind electricity and steam generation for the Humber’s two large oil refineries, is requesting a “signal” from the Government that it will be the anchor emitter for the Viking project.

As part of the CCS plans, VPI is proposing to spend £1.5bn on removing carbon dioxide from its Immingham plant.

Jorge Pikunic, chief executive of VPI, told The Yorkshire Post: “Carbon capture and storage provides a once-in-a-generation opportunity to turn the Humber into a powerhouse of the future. If missed, it may not come again.

“For the last five years, public officials have worked tirelessly with industry to set in motion the development of Viking CCS, a unique carbon capture and storage network, here in the Humber.

“Proceeding with the next stage of Viking CCS now will demonstrate how a strategic, mission-driven government can successfully transition an industrial hub into a future powerhouse, in a prudent, value-for money driven, just and meaningful way.”

The Humber “Energy Estuary” generates 20 per cent of the UK’s total electricity, creates one-third of its refinery products and is the location for the importation of around one-fifth of all gas into the country. It is also the largest emitter of carbon dioxide in Britain.

Local Conservative MP for Brigg and Immingham Martin Vickers urged the Government to reach a decision with a “matter or urgency”.

He said: “The various projects that are waiting for government approval are vital for the development of the Humber economy, more so with the uncertainty at British Steel, and the national interest.”

While Labour’s mayoral candidate for Greater Lincolnshire, Jason Stockwood, said if elected on May 1 he would be pressing the Government for immediate backing.

“This is a once-in-a-generation opportunity to secure thousands of skilled jobs, decarbonise heavy industry and put Greater Lincolnshire at the forefront of the UK’s clean energy future.

“I fully support this investment and will do everything I can to help make it a reality.”