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Monday, March 27, 2023

Qatar: Britain intends to invest about 22.5 billion euros in carbon storage

Britain announced its intention to invest twenty billion pounds (22.5 billion euros) over twenty years to sequester carbon, as part of its goal to achieve carbon neutrality by 2050. And the Ministry of Finance stated in a statement today that Jeremy Hunt, the Minister of Finance, who is supposed to present his budget to Parliament / Next Wednesday, he will announce an unprecedented investment in carbon sequestration and low-emissions energy. The British government hopes to present plans to store between twenty and thirty million tons of carbon dioxide annually by 2030, which is equivalent to the emissions of between ten million and 15 million cars, as well as contributing to the creation of fifty thousand jobs. Hunt is also expected to announce next Wednesday a boost to nuclear power production, including launching a competition for the first small modular nuclear reactors to be built in the country. The British Finance Minister wants to classify nuclear energy production as "green" He will launch consultations on this issue, hoping to encourage private investment in this sector. In Britain, which relies in particular on gas in its energy mix, families were particularly affected by the sharp rise in energy prices in the wake of the war in Ukraine, which led to an increase in inflation that exceeded 10 percent for months and caused an increase in the cost of living.

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