Poseidon Project

The Poseidon Project, led by Perenco UK following the award of a CCS (carbon capture and storage) licence from the North Sea Transition Authority, is a carbon storage initiative in the Leman gas field in the Southern North Sea. This field, one of the largest reservoir complexes on the UK Continental Shelf, comprises depleted gas reservoirs suitable for permanent CO₂ storage, offering an ultimate capacity of around one gigatonne. The field is linked to the Perenco-operated Bacton Terminal, which will receive and process CO₂ before offshore injection. The project is scheduled to begin operations in 2029, with initial injection capacity of approximately 1.5 Mt per annum. This capacity is expected to ramp up to around 10 Mtpa by 2034, with further geological potential enabling peak rates of up to approximately 40 Mtpa over a 40-year period. Perenco plans to move immediately into detailed appraisal and preparatory work alongside midstream and upstream partners to ensure the project remains on time and within budget.