Jurisdiction: United Kingdom
Commencement: 29th November 2023
Amends: The Energy Savings Opportunity Scheme Regulations 2014
Organisations must have a licence to transport hydrogen gas and carbon dioxide through a pipeline, and dispose of carbon dioxide via geological storage*.
*Geological storage is the injection of captured carbon dioxide into rock to remove it from the atmosphere.
It aims to promote sustainable development and help the United Kingdom achieve net-zero emissions** targets.
**Net-zero emissions means reducing greenhouse gas emissions to zero.
Counterparties
The Secretary of State may appoint a counterparty* for:
- carbon dioxide capture, transport and storage providers**;
- hydrogen producers; and
- hydrogen transport and storage providers***.
*A counterparty is an individual or organisation that provides financial support to organisations.
**A carbon dioxide capture, transport and storage provider is a person that captures, transports or stores carbon dioxide under a licence.
***A hydrogen transport and storage provider is a person that transports or stores hydrogen or a compound containing hydrogen.
Counterparties may:
- impose conditions on providers;
- specify the process to be followed when producing hydrogen or capturing carbon dioxide; and
- specify targets for hydrogen production and carbon capture.
Various duties apply and are available to view on the Legislation Update Service.
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