11 December
2024
Costain receives confirmation to proceed
on East Coast Cluster
Contract
progresses to execution phase for Teesside
CO2 gathering system
Costain Group PLC ("Costain") announces
it has received confirmation to proceed to the
execution phase on two landmark projects for Net Zero Teesside
Power (NZT Power) and the Northern Endurance Partnership
(NEP).
Following Government approval of the final
investment decision, Costain's delivery partner role will see it
deliver and manage the engineering, procurement and construction
(EPCm) of the onshore CO2 gathering system for NEP,
and associated utilities for NZT Power, as part of this £4bn
investment programme.
Costain is one of nine leading companies
selected by the bp joint ventures to deliver the schemes. NZT Power
aims to be the world's first gas-fired power station with carbon
capture and storage, while NEP will provide the CO2
transportation and storage infrastructure for three Teesside-based
carbon capture projects.
The confirmation to proceed follows Costain's
successful completion of the front-end engineering design (FEED)
for the carbon capture network, and its appointment to deliver the
FEED for the East Coast Cluster's hydrogen network.
Construction is expected to commence from
mid-2025, with start-up expected in 2028.
Alex Vaughan,
CEO of Costain, said:
"The energy transition is a vital part of the
UK's move to net zero, and our strategy is focussed on shaping,
creating and delivering critical pieces of national infrastructure
like this one.
"Another key element of our approach is growing
our consultancy business, and being selected as delivery partner on
such a pioneering project is recognition of our expertise. We look
forward to supporting bp and its partners to deliver a
world-class CO2 gathering network."
Enquiries:
|
Investors and
analysts
Paul Sharma, Costain
|
paul.sharma@costain.com
+44 (0)7867 501188
|
|
Financial
media - Headland
|
costain@headlandconsultancy.com
|
|
Andy Rivett-Carnac
|
+44 (0)7968 997365
|
|
Charlie Twigg
|
+44 (0)7946 494568
|
Notes to
editors
Costain helps to improve people's lives by
creating connected, sustainable infrastructure that enables people
and the planet to thrive. We shape, create and deliver pioneering
solutions that transform the performance of the infrastructure
ecosystem across the UK's transport, energy, water, and defence
markets.
We are organised around our customers,
anticipating and solving their challenges and helping to improve
performance. By bringing together our unique mix of construction,
consulting and digital experts we engineer and deliver sustainable,
efficient and practical solutions.