The milestone was officially celebrated at an exclusive First Carbon Storage event in Esbjerg, Denmark, in the presence of His Royal Highness Crown Prince Frederik of Denmark, Danish Minister for Energy-, Climate-, and Utilities Mr. Lars Aagaard - and with a pre-recorded address from President of the European Commission Ms. Ursula von der Leyen.
Ursula von der Leyen, President of the European Commission said, “This is a big moment for Europe’s green transition, and for our clean tech industry. The first ever full value chain, for carbon capture and storage in Europe. You are showing that it can be done. That we can grow our industry through innovation and competition, and at the same time, remove carbon emissions from the atmosphere, through ingenuity and cooperation. This is what Europe’s competitive sustainability is all about.”
The invitation only event was attended by representatives from business, policy and industry organisations from across Europe. First Carbon Storage is hosted by Project Greensand led by INEOS and Wintershall Dea.
With first carbon storage Project Greensand demonstrates, for the first time, the feasibility of cross-border, offshore CO2 storage across the full value chain - from capture to transport and storage. From when the CO2 is captured in Antwerp, transported by ship to Esbjerg, and finally stored in the depleted Nini West oil field in the North Sea, paving the way for the development of an international CCS value chain.
Image: Wintershall Dea/Sören Weper
This marks the culmination of the project’s pilot phase. The Final Investment Decision (FID) for a full-scale project is planned for the first half of 2024.
In February 2023, leading consortium partners INEOS and Wintershall Dea received the necessary storage license from the Danish authorities. At full scale, Project Greensand can store up to 1.5 million tonnes of CO2 per year in 2025/2026. By 2030 it aims to store up to 8 million tonnes of CO2 per year in this area while continuing to make significant contributions to our understanding and growth of carbon storage technology.
The European Commission estimates that the EU will need to store up to 300 million tonnes of CO2 per year by 2050 to meet its climate goals..
Sir Jim Ratcliffe, founder and chairman of INEOS, said, “This important milestone firmly demonstrates that CCS is a technology that can deliver on a global scale. The task at hand for the industry and policymakers is now to support the continued development and deployment of CCS as an essential tool to mitigate climate change.”
Project Greensand is a consortium of 23 organisations with expertise in Carbon Capture and Storage, including business, academia, government and start-ups. It is supported by the Danish state through the Energy Technology Development and Demonstration Program (EUDP). CCS is considered a key technology in reaching the Danish 2045 net zero target.
Lars Aagaard, Minister for Climate, Energy and Utilities said, “The Danish subsoil can store a lot more carbon than we ever will capture in Denmark. Therefore, I am extremely pleased that the whole perspective on the Danish subsoil from day one is based on an industrial thinking where these resources should be brought to the market and help other countries meet their climate target on a commercial basis.”