UK to introduce carbon storage levy as CCS industry matures

The UK's North Sea Transition Authority (NSTA) plans to introduce a carbon storage levy once the carbon capture and storage (CCS) industry becomes more self-sustaining. Following a consultation period, the NSTA found strong support for the "user pays" model among industry stakeholders. The levy, intended to fund NSTA services, will be designed based on principles similar to the existing petroleum levy and will be introduced when the CCS industry is more established. The timing and specifics will align with market transitions and the UK government's broader CCS policy framework. (Offshore Energy)