Denmark Hands First CCS Licenses in the North Sea
- February 8, 2023
- Posted by: Quatro Strategies
- Category: Cleantech
Denmark awarded its first licenses in the North Sea for the development of carbon capture and storage (CCS) projects to Germany’s Wintershall Dea, UK’s INEOS and France’s TotalEnergies, the country’s climate and energy ministry announced on Monday. Denmark aims to reach net zero emission by 2045and sees the CCS technology, which removes CO2 emissions from the atmosphere and stores them underground, as key to reaching that target.
The technology has come into prominence in Europe in recent years as industries and governments look to reduce emissions to meet their climate goals.
The Greensand project led by INEOS and Wintershall is expected to start injecting up to 1.5 million tonnes of CO2 into depleted oil and gas fields in the North Sea by 2025, the ministry said.
The project plans to increase capacity to 8 million tonnes per year by 2030.
On the other hand, TotalEnergies’ Bifrost project aims to inject up to 3 million tonnes into a depleted oil and gas field from 2027, reaching 5 million tonnes by 2030.
Total investments in the projects will reach 445 million Danish crowns ($64.4 million) and 157 million respectively, with the Danish state investing just under half of that.
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