RCS - Costain Group PLC - Costain / East Coast Cluster

CostainAnnouncement

11/12/2024 07:00

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RNS Number : 5678P  Costain Group PLC  11 December 2024

 

 

11 December 2024

 

Costain receives confirmation to proceed on East Coast Cluster

 

Contract progresses to execution phase for Teesside CO(2) 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 CO(2) 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 CO(2)
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 CO(2) gathering network."

Enquiries:

 

 Investors and analysts      paul.sharma@costain.com

 Paul Sharma, Costain        +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.

 

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