"The combination of our innovative carbon capture and storage solutions with our unparalleled engineering capabilities demonstrates McDermott's strategic role in reducing emissions and advancing the energy transition," said Tareq Kawash, McDermott senior vice president for Europe, the Middle East and Africa. "Together, we will progress Tata Steel's strategic road map toward carbon-neutral steel production by 2050."

Tata’s Enhancing Value by Emissions Reuse and Emission Storage (EVEREST) project aims to capture blast furnace CO₂ emissions from its IJmuiden facility in the Netherlands and deposit it in empty gas fields under the North Sea.

"This intended construction is a very important step for our future," said Annemarie Manger, Tata Steel Europe’s director of sustainability, health, safety, environment and quality. "We feel a strong responsibility to build a sustainable and connected society for the generations of tomorrow. We see this as the essential transition solution with which we contribute significantly to the required emission reduction by 2030.”