Greensand Future: CO2 storage can begin on a large scale in the North Sea. The necessary investment decision has now been made.
GreIneos Energy, Harbour Energy and the Danish North Sea Fund are the investors behind the project. According to their plans, the underground storage of CO2 is to begin in 2025/2026. It is the first project of its kind within the EU.
A budget of US$150m has been earmarked to cover the entire value chain from CO2 emitters, logistics and storage to storage.
The aim of Greensand Future is to store up to 400,000 tons of CO2 per year in the initial phase. The volume is to be increased to eight million tons by 2030. This will make a significant contribution to Denmark becoming climate-neutral by 2045, it says.
“Danish shipping companies are ready to play a central role in this process, be it in the transportation of CO2 or in the maintenance of offshore storage facilities, and thus contribute to establishing Denmark as an important EU hub for CO2 storage,” says Anne H. Steffensen, CEO of Danish Shipping.
