AIM-listed Synergia Energy is seeking partners to join its carbon capture and storage (CCS) project in the UK sector of the North Sea.

The company was awarded one of the 20 licenses offered in Britain’s first-ever CO₂ storage licensing rounds after the government unveiled funding of £20 billion (nearly $24.2 billion) in 2023.

The Medway Hub CCS project is currently estimated to have the capacity to store between 70 and 100 million tonnes of CO₂ which will be captured from three major coastal combined-cycle gas turbine power stations in liquid form. The CO₂ will be transported by marine tankers to a floating injection, storage, and offloading (FISO) vessel and then injected into depleted gas fields and saline aquifers on the UK Continental Shelf (UKCS).

Thirteen permanent storage sites have been identified and could enable the country to bury 30 million tonnes of CO2 annually by 2030.

Synergia Energy and its partner Wintershall Dea each hold a 50% interest in the CS019 Camelot carbon storage license, which is located in the UK Southern North Sea. The company is offering up to half of its interest under a farm-out arrangement, subject to necessary regulatory approvals. It will retain its designated operator role.

The first CO₂ injection is anticipated in 2032.