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The United Kingdom Government and the Italian Energy Company Eni will announce on Thursday the latest progress of a 38 -mile pipeline to collect carbon dioxide from industrial plants around Liverpool and Manchester and bury it in the offshore.
Two people familiar with the project said the announcement would be made after more than 60 leaders gathered in London for a two-day energy security summit.
The Eni pipeline is an essential part of Hynet North West, an industrial group that will include new plants to produce hydrogen to be used by domestic manufacturers.
Project supporters say the 350,000 production work in the region will be safer in the future as a result of the plan and that it will create 17 billion economic value over the next 25 years.
The Italian company plans to preserve 4.5 million tonnes of carbon dioxide per year in a number of 0.6 miles of impoverished gas fields under the sea of Liverpool, growing to 10Mn tonnes after 2030, the equivalent of annual car emissions.
Last October, the government said it will support Hynet and another project on the East Coast, Net Zero Seside, with nearly 22 billion £ 25 years support.
At the time, Eni Claudio Descalzi’s chief executive said support was an “important step” for creating a British carbon capture industry. The Eni Pipeline also obtained the planning permit in March, clearing the way to the final investment approval.
The government said in October that projects in Merseyside and Teesside will “inject growth into the industrial hearts of the northwest and north-east of England”.
But there have been concerns that a little money left for other carbon capture projects that are fighting for government support, especially projects in Humbher and Scotland.
Eni refused to comment.
Meanwhile, Keir Starmer, the Prime Minister of the United Kingdom, announced that it would come £ 300m available for offshore wind projects ahead of the June government spending review result.
Funding is created to make less dangerous projects for private investors and to build supply chains for new technologies such as floating wind platforms.
Additional reporting by Jim Pickard
