The Southern North Sea could become a major player in carbon capture and storage (CCS) - adding to a fast-growing array of energy-related industries in East Anglia , a new report suggests.

Areas identified in the Offshore Energies UK (OEUK) report where carbon could be stored under the sea include sites off the North Norfolk coast.

The study by the industry body looks at the opportunity for the oil and gas supply chain off the UK coast to benefit from the potentially highly lucrative new sector.

Carbon capture is seen as a means of helping energy-intensive sectors such as cement making and power generation to meet net zero goals, with the UK Net Zero Strategy setting out the need to capture 50m tonnes of carbon a year by 2035.

East Anglia could be at the forefront of the new technology, OEUK suggests. It is already home to a fast-growing energy sector - including offshore wind, offshore gas and nuclear - with a new Sizewell C plant now green-lit by government. It is also identified as a potential player in hydrogen - which is seen as a possible successor to carbon-emitting natural gas to heat UK homes.

The report - commissioned by the Department for Business, Energy and Industrial Strategy (BEIS) - identifies capabilities from the UK's existing oil and gas sector in areas such as plant design and engineering, plant fabrication, and construction which could be used to good advantage.

It sees the UK as having the potential to become a major player in the sector, which it estimates could be worth £20bn to the offshore oil and gas supply chain in the next 10 years, and £100bn by 2050.

It suggests that the UK has an estimated offshore storage capacity of 78 gigatons - which is one of the largest in Europe and enough to hold about 200 years' worth of the UK’s current carbon emissions.

It is calling on the government to speed up the licensing process for storage sites as the country pivots towards the new technology.

And it warns that the supply chain - while experienced - is "fragile" - meaning the UK could lose out to other parts of the world if it doesn't secure "first mover advantage".

It identifies communities in Aberdeen, Inverness, Liverpool, North Wales, East Anglia, Lincolnshire, Yorkshire and Teesside as ones which could potentially benefit from the industry.

"The UK is surrounded by geological formations and depleted oil and gas reservoirs that have excellent characteristics for a successful and long-term CCS industry," says the report.

"The British Geological Survey, in partnership with the Crown Estate, has identified over 78 gigatons of CO2 storage capacity under the UK seabed. This is enough to support the UK’s demands for centuries, with the bulk located in the North Sea. There is also an opportunity to store other countries’ carbon emissions."

OEUK supply chain and operations director Katy Heidenreich said: “Carbon capture and storage is going to be a key tool in our fight against climate change. It offers a huge opportunity for the UK supply chain to help energy intensive industries cut emissions.

“If we get this right, it could unlock £100bn-worth of work for UK manufacturing employers by 2050. This will support UK jobs, cut emissions, boost the economy, and develop skills which can be exported globally.

“Eastern England is one of the best-placed regions to take advantage of and benefit from these exciting new technologies.

“Lots of progress has been made, but without urgent action the UK will miss out on the opportunity to secure a leadership position in this exciting new sector.

“Our report sets out how we will continue to work with government to seize a first mover advantage, benefitting the economy, jobs and local communities while achieving our net zero goals.”