Aberdeenshire, located on the North Sea coast, is recognised as a major centre for energy and natural resources. Speaking at the St Fergus gas terminal, where the project will take place, UK Energy Minister Ed Miliband said the company is expected to present its final investment decision to Parliament.
Minister Miliband noted that while no definitive timeline has been provided, the government hopes the project will reach key milestones over the next decade. The investment is part of the UK government’s spending review and aims to deliver an average annual contribution of £2.9 billion to Scotland’s budget.
Meanwhile, Miliband also announced that the Scottish Labour government is continuing its efforts to bring a new nuclear energy source to Scotland.
Environmental group Friends of the Earth, however, criticised the carbon capture initiative, arguing that public funds are being used to benefit oil and gas companies.
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