Project Greensand backed by €26m award for carbon capture
Project Greensand to receive Danish Government funding of DKK 197 million (€26 million) for CO2 storage in the North Sea
The Danish Energy Agency has announced that it will award 197 million DKK (€26 million) to the INEOS led consortium backing Project Greensand for CCS (carbon capture storage). The carbon storage project will support Denmark’s ambitions to reach a 70% CO2 reduction by 2030.
A pilot phase targets first injection from late 2022. Subject to progress, the consortium aims for full-scale CO2 storage from 2025 onwards. The project could ultimately have total storage potential of up to eight million tonnes of CO2 per year. This means that the project could potentially deliver all the CO2 storage envisaged in the Danish Climate Programme.
David Bucknall, CEO INEOS Energy, said:
"We are very pleased and thankful for the trust that has been shown to the entire consortium behind Project Greensand. Carbon capture storage is one of the steps needed to reach the ambitious climate goals in Denmark, and we as a consortium are very proud to be allowed to contribute to that through this project.”
The award is based on a political decision by The Danish Government and a broad majority of political parties in December 2020 to allocate a total of DKK 197 million earmarked for the development and demonstration of CO2 storage in the North Sea.
Mads Gade, Head of INEOS Energy, Denmark, said:
“The entire consortium has been waiting in the starting block and we are ready to start working on the project so we can help reach the ambitious climate ambitions as soon as possible.”
David Bucknall, CEO of INEOS Energy, said:
“This is a huge achievement and a big step towards the net zero ambition for INEOS.”
Wintershall Dea’s Chief Technology Officer, Hugo Dijkgraaf, said:
“We warmly welcome the trust and funding support from the Danish Government, which recognises that CCS is essential for delivering climate goals in Denmark and Europe. With CCS we can safely store unavoidable industrial emissions, enabling a clean and successful future for European industry. Wintershall Dea is proud to be driving this promising project forward.”
Klaus Langemann, Senior Vice President for Carbon Management and Hydrogen, Wintershall Dea, says:
"In CCS we see an opportunity to take Wintershall Dea’s expertise – in the subsurface, for drilling and operating offshore – and apply it to the task of reducing industrial emissions. We look forward to working with our consortium partners to deliver Project Greensand.”
The Storage potential in Project Greensand is ½-1 million ton of CO2 per year from 2025, increasing to 4-8 million tons of CO2 per year by 2030. The Greensand Area could account for all of the CO2 storage proposed in the Danish Climate Program.
