The Chancellor has pledged more than £800 million for the creation at least two carbon capture and storage (CCS) “clusters” in the UK by 2030.
Announcing the fund in his first Budget, Rishi Sunak reeled off a number of locations that could receive extra cash, including St Fergus, near Peterhead.
Mr Sunak also mentioned Teesside, Merseyside and Humberside as potential hosts of large-scale CCS schemes.
At St Fergus, Aberdeenshire firm Pale Blue Dot Energy is working with oil and gas firms Chrysaor, Shell and Total to bring the so-called Acorn CCS and hydrogen project to life.
More to follow.