Tees Business Tees Business Issue 16 | Page 9

Serving the Teesside Business Community | 9 /NEWS SOUTH TEES BREAK WITH CLEAN GAS PROJECT /OPINION ‘WE’RE READY TO DELIVER’ The South Tees Development Corporation site has been ear- marked for major regeneration. T he development of a world-first multi- billion pound energy project on Teesside has been revealed, which could create thousands of jobs for the region. A consortium led by OGCI Climate Investments and made up of six global energy giants – BP, ENI, Equinor, Oxy, Shell and Total – with a total combined market capitalisation of over £500billion, have unveiled phase one of their plans to create a huge power plant on Teesside which will run on natural clean gas. Tees Business understands the proposed plant would be on the South Tees Development Corporation site. Branded the ‘Clean Gas Project’, it will be the world’s first gas-powered energy plant to deploy full-chain Carbon Capture Utilisation and Storage (CCUS) at scale, meaning CO2 from the plant will be captured and then stored via pipelines under the North Sea. The infrastructure created would also enable wider industry on Teesside and elsewhere to capture and store CO2 from their processes. The CCUS technology, once fully T developed, could also attract more companies to the region that are seeking ways to utilise CO2 commercially – such as converting the waste gas into more useful chemicals that can be used in the supply chain. This could unlock additional investment that creates thousands of jobs, while reducing the area’s carbon footprint even further. The OGCI consortium is responsible for a $1billion-plus fund, investing in technologies and business models which lower the carbon footprint of the energy and industrial sectors. The fund was created by the CEOs of these major oil and gas giants to take practical action on climate change. The Tees Valley was selected as the best configuration for a CCUS cluster out of 50 business models considered by OGCI. Tees Valley chemical and process industries contribute almost £1billion to the economy each year and support a workforce of more than 7,600 people. Average wages in the Tees Valley chemical sector are also 23% higher than the national sector average. Tributes to Nas Khan ributes have been paid to Dr Nas Khan OBE – the motor dealership boss and devoted family man renowned for his commitment to the Teesside community. Dr Khan, who died suddenly aged 58, couldn’t speak English when he came to Britain from Pakistan as a 14-year-old. Just eight years later, he was appointed as a sales executive at the Jennings Ford dealership in Yarm Road, Stockton. And that was the start of an astonishing career which ultimately saw him establish the Jennings Motor Group as one of the UK car industry’s major players. Resolution Media and Publishing non- executive director Bob Cuffe, former managing director of the Gazette, led the tributes. “Teesside has lost one of its most respected business leaders with the untimely death of Nas Khan,” said Cuffe. “Nas was a very proud Teessider and was a complete advocate for the area he said had welcomed him and his family. “Teesside was very proud of Nas and our thoughts and best wishes go to his wife, Naila, and his children, Sohail, Sairah, Tributes have been paid to Nas Khan (pictured courtesy of the Gazette). Natasha and Samah.” Tees Valley mayor Ben Houchen said: “Nas Khan was a fantastic man, a business giant and a true Teesside success story. “He worked incredibly hard to build Jennings into a household name, and helped countless people across our region thanks to his commitment to our local charities. He will be sorely missed.” James Ramsbotham, chief executive of the North East England Chamber of Commerce, said: “Nas Khan’s start in life would never have suggested the amazing contribution he has made to so many people’s lives.” I t goes without saying I wholeheartedly welcome OGCI’s proposed development of a world-first clean energy project for the Tees region. This is the project we’ve been talking about for quite some time. It has taken a while, but I hope the people of the Tees Valley will be pleased with what we have announced. This multi-billion pound energy project will pave the way for our region to become the clean energy powerhouse of the UK, creating and safeguarding thousands of jobs. We have got some of the biggest companies in the world choosing Teesside to develop this ground-breaking technology – a world first which will also support the development of our huge processing and chemicals industry. Tees Valley chemical and process industries contribute almost £1billion to the economy each year and support a workforce of more than 7,600 people. Average wages in the Tees Valley chemical sector are also 23% higher than the national sector average. I’ve worked with OGCI and the UK government for over a year to press the case for the location of the power plant and CCUS. This is a project of national significance, and once developed will create thousands of jobs and even more in our local supply chain. Due to the sheer size and scale of this multi-billion pound energy plant, it won’t happen overnight. But to be selected out of 50 business models by this major international consortium is a clear vote of confidence in our local economy and our skilled workforce. Let there be no doubt: we’re ready to deliver this monumental project. Ben Houchen Elected mayor, Tees Valley PD Ports has announced an all-time record in container volumes handled at Teesport, one of the deepest water ports on the east coast of England. Teesport also achieved an overall volume increase higher than any other UK port in 2017. #TalkingUpTeesside