07:00 Fri 14 May 2021
IOG PLC - Collaboration Agreement with GeoNetZero CDT
IOG plc
Collaboration Agreement with GeoNetZero CDT on
IOG plc ("IOG" or "the Company"), (AIM: IOG.L), the
As an environmentally low-impact domestic gas developer, IOG supports the
This important latter storage element is the focus of this research, filling the gap in the geological analysis of the factors that maintain seal integrity at subsurface sites. Drawing on an extensive gas industry archive of seismic, well and core data, the key focus will be on proving which fields and aquifers across the Bacton catchment area are the most suitable carbon sinks, particularly where existing infrastructure could provide operational synergies.
"We are very pleased to support GeoNetZero CDT's valuable research into carbon storage across our operating area. This collaboration demonstrates our support for the
IOG is committed to Bacton and its catchment area, where we have established a long-term strategic position to underpin our growth into a safe and sustainable
In that context, rigorous technical analysis of nearby CCS potential is a key element in validating the investment thesis for blue hydrogen. This will inform the roadmap towards a decarbonised energy hub at Bacton that could bring new economic opportunities and extend the life of existing infrastructure."
Professor
"I am delighted that IOG has elected to support research that will identify, examine and test carbon storage sites and other low-carbon renewable options in the
This support shows that industry recognises the relevance and impact of our research at the GeoNetZero CDT and Heriot-Watt University to decarbonise the
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of
Enquiries:
IOG plc
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+44 (0) 20 7036 1400 |
finnCap Ltd
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+44 (0) 20 7220 0500 |
Peel Hunt LLP
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+44 (0) 20 7418 8900 |
Vigo Consulting Patrick d'Ancona
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+44 (0) 20 7390 0230 |
Heriot-Watt University / GeoNetZero CDT Prof. |
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About IOG:
IOG owns and operates a 50% stake in substantial low risk, high value gas reserves in the
1ERC Equipoise Competent Persons Report:
About GeoNetZero CDT:
GeoNetZero CDT is an academic-industry partnership comprising 12 universities and 8 companies that delivers doctoral training in geoscience facing the low carbon energy transition and the challenge to meet net zero emission targets. Its mission is to provide the skills and training needed to secure a sustainable low-carbon net zero future. The programme entails PhD research alongside an accredited 20-week bespoke training programme of modules delivered by experts. Established in 2014 after winning a
Glossary:
Carbon capture and storage (CCS): the process of capturing carbon dioxide as an industrial or power generation by-product and sequestering it (e.g. in geological formations, often depleted gas reservoirs) to avoid release into the atmosphere.
Blue hydrogen: hydrogen produced from hydrocarbons, where the carbon dioxide is subject to CCS.
Steam reformation: core part of the process of producing hydrogen from methane, whereby methane molecules are split by the presence of high-temperature steam and a catalyst at certain pressures into hydrogen and carbon monoxide (CH₄ + H₂O + heat = 3H₂ + CO). The latter is then reacted with water molecules to become carbon dioxide, which can be subject to CCS as above, while also forming more hydrogen in the process (CO + H₂O = CO₂ + H₂).
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