INEOS and its companions will be capable of probe for onshore CCS in Denmark.
The Danish Vitality Company awarded an exploration license for onshore CO2 storage to INEOS and its companions, Wintershall Dea and Nordsøfonden. The onshore carbon seize and storage (CCS) license is granted for exploration within the Gassum formation in Jutland, Denmark.
CCS is “crucial” for the EU to satisfy local weather targets.
One necessary motive why CCS issues, in line with INEOS Vitality CEO David Bucknall, is that establishing onshore and offshore websites for everlasting CO2 storage is “crucial for the EU to meet its climate goals.” It should additionally “support a robust market” for CCS.
There’s important potential to retailer carbon dioxide (CO2) in Denmark’s subsurface. Geological Survey of Denmark and Greenland (GEUS) evaluation reveals that the Danish subsurface can accommodate between 12 and 22 billion tons of CO2. To place this into broader perspective, that’s about equal to 400 to 700 occasions Denmark’s annual CO2 emissions.
INEOS seeks to be a frontrunner in CO2 storage.
Throughout the Gassum license, GEUS has recognized potential for secure CO2 storage. The companions within the Gassum license will start the method of exploration with the intention of uncovering potential everlasting storage of Danish and European CO2 within the Gassum formation. The expertise beforehand gained from the INEOS-led Venture Greensand and its pilot stage shall be used on this exploration course of. Investigation will reportedly be carried out in shut dialogue with nationwide and native authorities in Denmark.
“The Gassum onshore licence aligns perfectly with INEOS Energy’s strategy: Delivering energy during the green transition and being a frontrunner in carbon capture and storage,” Bucknall stated in a latest INEOS Energy information launch.
May INEOS’ CO2 Storage license grant be excellent news for hydrogen?
Being a hydrogen-first information website, Hydrogen Fuel News was curious if INEOS’ CO2 storage license announcement would have any affect on the hydrogen trade. We reached out to the corporate to be taught extra:
How do you see this affecting the price of hydrogen and hydrogen manufacturing throughout the space?
“It is early days and there is a lot of work to be done to prove the capacity of the geology at the Carbon Storage site in Denmark,” a consultant from INEOS informed us in an electronic mail. “Among other things, a full environmental assessment must be carried out – a so-called EIA. This means that before a company is allowed to store CO2 underground, it must conduct thorough studies of the risk of affecting the environment, nature and people. Taking the site into operation is subject to approval by the Danish Energy Authority and environmental approvals from the local and national environmental authorities.”
“We will then need a final investment decision,” INEOS added. “But there is an ambition to be able to receive Danish and European CO2 in Gassum before 2030. This will then benefit industry across Denmark and Europe broadly as a means of removing CO2 emissions from the atmosphere. Theoretically this could also include CO2 from hydrogen production.”
Any ideas on how this might have an effect on the hydrogen trade?
“It is essential to support the growth of hydrogen,” the consultant stated. “In general, we anticipate a growth of hydrogen production as a means of reducing CO2 emissions as industry targets its net zero commitments. Blue hydrogen production will require carbon capture and permanent storage and so this and other CCS projects will enable growth of the sector.”
