Summit Energy Evolution Limited (SEEL), a subsidiary of Sumitomo Corporation, has entered into an agreement with Carbon Catalyst Limited (CCL) to acquire a 10% working interest in the Orion carbon storage license situated in the Southern North Sea sector of the UK Continental Shelf. The farmout agreement, pending regulatory approval, marks SEEL’s debut in the UK carbon storage sector, joining CCL and license operator Perenco in a strategic decarbonization initiative.

The Orion project encompasses two Carbon Storage Licenses, CS017 and CS018, covering the decommissioned Amethyst and depleted West Sole gas fields, operated by Perenco UK (PUK). These fields hold significant importance due to their proximity to Humberside, the UK’s largest industrial cluster. Additionally, they are directly linked by pipeline to the PUK-operated onshore Dimlington Gas Terminal.

Henry Morris, Executive Director at Carbon Catalyst, expressed satisfaction with SEEL's participation in the Orion CCS project. Morris highlighted SEEL's extensive experience in the UK oil and gas sector, along with its leadership in the Bacton Energy Hub. He also emphasized the leverage provided by Sumitomo Corporation’s global energy transition activities spanning shipping, hydrogen production, transportation, alternative sustainable fuels, and energy transition infrastructure.

SEEL's entry into the UK carbon storage sector follows closely on the heels of Carbon Catalyst Limited's recent completion of the farmout, selling a 10% stake in the Poseidon carbon storage license, also located in the Southern North Sea sector of the UK Continental Shelf, to Wintershall DEA.