It paves the way for expected investments of more than $150m across the Greensand CCS value chain to scale storage capacity, according to INEOS, the day-to-day operator, in conjuction with Harbour Energy and Nordsøfonden.
The project will store CO2 from Danish emitters in a depleted oil field in the North Sea.
Initially it will store 400,000 tonnes of CO2 each year and as storage capacity gradual expands towards 2030, it could potentially store up to 8m tonnes per year.
Sir Jim Ratcliffe, Chairman of INEOS, said it marked a breakthrough for carbon capture and storage (CCS). “Greensand Future will be the first CO2 storage facility in operation in the EU supporting both Danish and EU’s climate objectives,” he said.
Greensand Future is a full industrial CCS value chain built on a scalable platform, allowing the gradual expansion of storage capacity as CO2 volumes increase. It is directly applicable to other onshore and offshore storage projects, contributing to the much-needed global acceleration of CCS deployment.
Mads Gade, Head of Denmark, INEOS Energy said: “With Greensand Future and the establishment of the full value chain we are sending an important message to the Danish and European emitters currently considering large-scale capture projects, that it can be done.”
The European Commission has estimated that the EU will need to establish a carbon storage capacity of 250 million tonnes of CO2 per year by 2040 to achieve the objectives of the Paris Agreement. CCS is also considered a key technology in reaching the Danish 2045 Net Zero targets.
CO2 in the first phase will be captured and liquefied at Danish biomethane production plants, transported to the port of Esbjerg, and then shipped by Royal Wagenborg to the Nini field in the Danish North Sea for safe and permanent storage.
On March 8th, 2023, the INEOS-led pilot Project Greensand conducted the world’s first cross-border offshore CO2 storage intended to mitigate climate change as His Majesty King Frederik of Denmark officially initiated the first injection of CO2 into the Nini field during the pilot phase of Project Greensand.
Mads Gade, Head of Denmark, INEOS Energy, said, “Last year we were the first in the world to succeed in developing a value chain for safe and efficient capture, transport and storage of CO2 across national borders. Now we are proud to take the next step, building on the learnings from the pilot and aiming to deliver a fully operational commercial project by end 2025/early 2026.”
The results of Project Greensand have been verified by the independent and world-leading provider of risk, verification and standardisation services, DNV. The thorough technical verification ensures that the stored CO2 remains safely and permanently in the closed Nini West reservoir 1,800 metres below the North Sea seabed, as expected.
Gade said it has been documented and independently verified that Greensand has a well-functioning storage, where large amounts of CO2 that would otherwise have been emitted into the atmosphere can be stored.
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Publish date : 2024-12-10 06:02:00
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