The gas leak at Elgin field in the North Sea off Aberdeen looks set to cost French company Total over £12 billion.
Share prices have tanked (-£7 billion), relief wells are being planned (-£250 million), leaving the field unexploited (-£5.5 billion). Daily costs are estimated at £2 million.
That’s not to mention the CO2e of almost one billion tonnes of carbon. At an emissions tax of £20 per tonne, that’s a further headache for Total – if the emissions were taxed appropriately at some point in the future.
