A former chief energy regulator is embracing the shift to greener technologies in the North Sea, joining an emerging carbon capture and hydrogen business as chairman. Alistair Buchanan, who was head of the regulator Ofgem for a decade to 2013, has been appointed non-executive chairman at Storegga Geotechnologies. The private company led by former oil and gas producer Ophir Energy’s Nick Cooper is backed by major global investors Macquarie, Mitsui and Singapore’s sovereign wealth fund GIC. It is behind the Acorn project to stash carbon dioxide emissions under the North Sea off the Scottish coast and produce hydrogen, as well as other carbon removal efforts. Mr Buchanan helped devise the regulatory system for the offshore wind industry and onshore electricity networks while chairing Ofgem.
Telegraph 17th May 2021 read more »