EMISSIONS: UK MPs Question £21.7bn CCS Plan Over Uncertainty, Methane Concerns
Feb-07 13:16
MPs have questioned the UK government’s £21.7bn investment in CCS, warning that uncertainties over its effectiveness and methane emissions from LNG supply chains could undermine projects like Net Zero Teesside, the MPs said, cited by Energy Voice.
- Additionally, MPs urge the government to set a new carbon capture target and assess whether the programme is financially viable for taxpayers and consumers.
- The committee highlights concern about higher-than-expected methane leakage during LNG production, which CCUS technology cannot mitigate and could “undermine the rationale for pursuing certain projects”, the MPs added.
- However, the government defends CCUS as essential for UK energy security and industrial competitiveness despite recent downgrades in its net-zero ambitions.
- The Teesside project, a joint venture between BP and Equinor, aims to be operational by 2028. It will be able to store 4 mn/t of CO2 annually.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EURGBP TECHS: Breaches Resistance
Jan-08 13:15
- RES 4: 0.8448 High Oct 31 and reversal trigger
- RES 3: 0.8400 High Nov 5
- RES 2: 0.8376 High Nov 19 and a bull trigger
- RES 1: 0.8348/56 Intraday high / High Nov 27
- PRICE: 0.8338 @ 13:14 GMT Jan 9
- SUP 1: 0.8284 Intraday low
- SUP 2: 0.8263/23 Low Dec 31 / 19
- SUP 3: 0.8203 Low Mar 7 2022 and a major support
- SUP 4: 0.8188 1.00 proj of the Oct 31 - Nov 11 - 19 price swing
EURGBP has traded sharply higher today and in the process breached resistance at the 50-day EMA, at 0.8311. The cross is also through the December highs. This undermines the recent bearish theme and suggests scope for a stronger short-term recovery. A continuation of the bull leg would expose 0.8376, the Nov 19 high and the next important resistance. Initial support lies at 0.8284, today’s intraday low.
STIR: Waller Helps Unwind Remainder Of ISM Services Boost
Jan-08 13:15
- Gov. Waller (permanent voter) seeing more rate cuts as appropriate has seen Fed Funds implied rates dip 1-2bps across the near-term path.
- In doing so, it’s reversed the impact from yesterday’s ISM services beat (primarily on its particularly strong prices paid component) with help from President-elect Trump yesterday also wanting to see lower rates.
- Cumulative cuts from 4.33% effective: 1bp Jan, 10.3bp Mar, 15.5bp May, 25bp Jun, 28bp Jul and 38bp Dec.
GILT PAOF RESULTS: The PAOF for the 4.375% Mar-30 Gilt was not taken up.
Jan-08 13:04
- GBP1.0625bln had been on offer.
- This leaves GBP 4.250bln of the gilt in issue.
