A final investment decision has been made on Porthos, the first major CO2 transport and storage system in the Netherlands.
Construction will begin next year on the joint venture project by EBN, Gasunie, and the Port of Rotterdam Authority.
Porthos is expected to be operational by 2026, however, infrastructure for the project requires an investment of €1.3 billion.
With the final investment decision reached, Porthos will now award contracts required to realise the project.
Hans Meeuwsen, Porthos director, said: “CO2 storage is crucial if we want to achieve the climate goals in the Netherlands.
“This investment decision is an important starting point for future developments in CO2 storage in the Netherlands.”
What is Porthos?
Porthos will provide transport and storage services to a number of companies in the port of Rotterdam, including ExxonMobil, Shell, Air Liquide, and Air Products.
Each of these firms will be investing in their own capture technology and will rely on Porthos to transport and store CO2.
The project will transport the CO2 to depleted gas fields in the North Sea that are currently operated by TAQA Energy.
These fields are around 14 miles off the coast of Rotterdam and at these sites, CO2 will be permanently stored below the seabed.
Porthos plans to store about 2.5 Mton per year for 15 years, totalling around 37 Mton.
Once the reservoir is full, the Porthos onshore transport system under construction allows for future CO2 storage projects.
The group behind Porthos say the project will reduce the amount of CO2 produced by the Rotterdam port industry by around 10%.
Recommended for you
