Leadership
-
Gavin Templeton
dChief Executive Officer
Gavin joined Veri in October 2024 to lead the overall strategic direction and execution of Veri Energy's project portfolio. Gavin has an extensive track record having held senior leadership positions in the energy transition sector.He was part of the team that established the world’s first dedicated green finance institution, the UK Green Investment Bank, which was later acquired by Macquarie. His career began at BP as a trader before transitioning to investment banking roles at Morgan Stanley and Rabobank.
-
Salman Malik
dFounder & Director
Salman Malik has been responsible for managing EnQuest's Infrastructure and New Energy business since 2021. He founded Veri Energy in 2023 and serves as a director of the company. Salman was previously Group Chief Financial Officer at EnQuest where he has driven strategic and financial directives of the company. He has a wealth of experience in structured finance, mergers and acquisitions, and post-acquisition management. His expertise extends across the entire energy value chain, having been pivotal in executing significant transactions that have fortified the foundations of sustainable energy infrastructure. He has also held several positions in the private equity and investment banking industry. -
Amjad Bseisu
Button labelChairman
Amjad worked for the Atlantic Richfield Company (‘ARCO’) from 1984 to 1998, eventually becoming president of ARCO Petroleum Ventures. In 1998, he founded and was the chief executive of Petrofac Resources International Limited which merged into Petrofac PLC in 2003. In 2010, Amjad formed EnQuest PLC, having previously been a founding non-executive chairman of Serica Energy plc and a founding partner of Stratic Energy Corporation. Amjad was British Business Ambassador for Energy from 2013 to 2015.
Principal external appointments
Chairman of the independent energy community for the World Economic Forum since 2016. Director of The Amjad and Suha Bseisu Foundations since 2011. -
Gareth Penny
Button labelNon-Executive Director
Gareth has chaired a number of public and private boards. He is currently chairman of EnQuest plc, chairman of Ninety one Plc and Ltd having previously been chairman of Norilsk Nickel, Russia’s largest diversified mining and metals company. Gareth also served on the board of Julius Baer Group for 12 years. Gareth has extensive experience in extractive industries, having spent 22 years with De Beers and Anglo American, the last five of which he was group chief executive officer of De Beers.
Principal external appointments
Chairman of Ninety One Plc and Ltd.
Our Projects
We are focussed on exploiting the full potential of the Sullom Voe Terminal, historically a major oil and gas storage, processing and transport facility. Our vision is to transform the terminal into a major new energy transition hub by delivering four decarbonisation projects contributing to the UK’s Net Zero ambitions:
Carbon Storage
Carbon capture and storage is expected to play a significant role in the UK, Europe and globally as governments seek to comply with legally-binding commitments under the 2015 Paris Agreement and others to achieve net zero carbon emissions by 2050.
In the countries surrounding the North Sea there are at least 1.6 billion tonnes of annual industrial CO2 emissions as of 2022, including in excess of 300 million tonnes from the UK alone.
Currently, the UK government is targeting carbon storage from a variety of sites to achieve 30 million tonnes of annual capacity by 2030.
This means there remains enormous demand for capture and storage for the foreseeable future, relative to the near-term supply.
Carbon Storage
Our Project
Veri Energy aims to be a major contributor to the carbon storage solution in the UK and Europe. Our four licensed reservoir sites have storage capacity of up to 10 million tonnes per annum, with our storage project scheduled to initiate from as early as 2028/2029.
The existing deep-water port and jetties located at Sullom Voe Terminal and the 200km pipeline network linked to our offshore reservoirs enhances our opportunity to repurpose infrastructure to import and permanently store material quantities of CO2 from isolated emitters in the UK, Europe or further afield.
A potential energy revolution
Hydrogen
Hydrogen is emerging as a major source of potential clean energy due to its zero carbon emissions and usability as a substitute for existing fuels. In coming years, global demand is expected to rise dramatically as industries and power generation sites switch. According to the International Energy Agency, in 2022 global hydrogen demand reached 95 million tonnes, with various sources including McKinsey, PwC, estimating it could reach anywhere from 150 million tonnes and 500 million tonnes by 2050.
VERI Energy
Renewable Power
Veri is evaluating the potential for a scalable onshore wind project at SVT. The project includes several benefits:
- Modular design will allow us to install up to 30-40MW of wind turbines.
- Brownfield site at SVT is expected to streamline permitting process and shorten lead times.
- High wind factor rates of over 50% in the Shetland Islands are amongst the highest in the world.
Veri is also working with our parent, EnQuest plc, to assess the potential to leverage the Group’s existing infrastructure and subsea projects expertise to facilitate the electrification of nearby offshore oil and gas assets and planned developments by way of a grid connection supplemented with renewable power. This would lead to significant emissions reductions for platforms which are expected to operate into the 2050’s.
LEADERS
Our Vision
Our vision is to be a leader in the global energy transition, leveraging our parent company EnQuest plc's experience operating complex infrastructure assets, and working with stakeholder groups to move towards a net zero carbon future.
VALUES
Our Mission
Through our parent company EnQuest plc, we are demonstrating capability to deliver cost reduction, rightsizing and decarbonisation at Sullom Voe Terminal.
Our mission is to deploy this capability globally to legacy energy and other infrastructure assets, developing and delivering plans to unlock value by reducing costs, improving efficiency, extending useful life, transitioning to new energy and reducing the carbon footprints of these assets.
Key Metrics
Our parent company
EnQuest Plc
Veri Energy is a wholly owned subsidiary of EnQuest plc. EnQuest is an independent energy company focused on mature late-life assets, responsibly optimising production to provide energy security. Where we can, we repurpose our infrastructure to deliver renewable energy and decarbonisation projects before executing world-class decommissioning.
Shares in the Company trade on the London Stock Exchange (ENQ.L).