INEOS has opened a new path for the European industry by commencing commercial operations at the Greensand project, the first full-scale carbon storage facility in Europe. This project provides the necessary infrastructure for the transport and permanent storage of CO2 at sea for industries across the European Union for the first time.
Details of the Greensand Project
The Greensand project, led by INEOS Energy along with Harbour Energy and Nordsøfonden, primarily sources CO2 from biogas plants in Denmark. This allows for the creation and management of a complete CCS (Carbon Capture and Storage) value chain, while CO2 absorption projects in industries continue to develop and expand.
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After capture, the CO2 is liquefied and transported by truck to a dedicated CO2 terminal at the port of Esbjerg. It is then injected into the Nini West reservoir in the Danish North Sea, approximately 250 kilometers offshore and at a depth of about 1,800 meters beneath the seabed, using the Carbon Destroyer 1, the first CO2 carrier designed in the European Union.
Capacity and Future Goals
At this initial commercial stage, Greensand is capable of storing up to 400,000 tons of CO2 annually. The site is designed for significant expansion, with the potential to store 4 to 8 million tons per year if demand increases.
David Bucknall, CEO of INEOS Energy, stated that for years, CCS in Europe has been defined by plans, goals, and aspirations. Today, Greensand has launched the first full-scale CO2 storage site in the European Union, laying a foundation for future carbon capture projects across Europe.
Energy-intensive industries in Europe directly create jobs for nearly eight million people and generate approximately 550 billion euros in added value annually. These industries are vital for ensuring Europe's energy security and provide the materials that society depends on.
At the same time, the European Union is striving to achieve its goals of capturing and storing 50 million tons of CO2 per year by 2030 and 250 to 280 million tons by 2040. Currently, Europe is far from this scale.
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