Climate Change

EU grants EUR 480 million to carbon transportation, storage projects

EU-grants-EUR-480-million-carbon-transportation-storage-projects

Photo: iStock

Published

January 26, 2024

Country

Comments

0

Share

Published:

January 26, 2024

Country:

Comments:

0

Share

The European Commission earmarked four fifths of its latest cross-border energy infrastructure funding package, worth EUR 594 million, for investments in the transportation and storage of carbon dioxide. The purpose is to develop the supply chain within the budding carbon capture, utilization and storage (CCUS) industry. The EU aims to store at least 400 million tons of CO2 per year by mid-century, but not everything would be put away underground permanently.

The presentation of the European Union’s carbon management strategy is scheduled for February 6. It deems CO2 capture and storage – CCS, or CCUS when utilization is included – necessary to achieve climate targets. The technology is far from mature and a market is still just an idea. But they are especially relevant for the decarbonization of so-called hard-to-abate industries like cement and steel.

The European Commission aims to set a target for CO2 sequestration in 2050 to 450 million tons, Euractiv learned. The goal for 2030 would be 50 million tons.

In the meantime, the 27-country bloc’s executive body just approved EUR 594 million in grants from the Connecting Europe Facility (CEF) for eight cross-border energy infrastructure investments.

They were declared projects of common interest (PCI) in 2022. Five are for carbon transportation and storage, but they are eligible for up to EUR 480 million. The purpose is to develop an EU-wide carbon value chain.

D’Artagnan CO2 infrastructure project grabs third of new funding package

The D’Artagnan project for a CO2 export hub in the port of Dunkirk in France is receiving up to EUR 189 million. The PCI involves setting up a network for the collection of the greenhouse gas.

It aims to connect, by ships and a pipeline, the main industrial emitters in Dunkirk harbor and its hinterland with key CCS projects under development in the North Sea and the Netherlands for permanent storage. The plan includes infrastructure in the port of Rotterdam. Air Liquide France Industrie, Dunkerque LNG, EQIOM, Lhoist and RTE are part of the endeavor.

Rotterdam set to become biggest CCS infrastructure hub in EU

The EU also awarded EUR 157 million for CO2 infrastructure in the port of Rotterdam in the Netherlands. It includes an import terminal and 200 kilometers of undersea trunkline. The Aramis project, which received EUR 124 million, is for transporting anthropogenic and biogenic CO2 for permanent geological storage in depleted gas reservoirs in the North Sea.

Several emitters would transport captured CO2 to the main onshore hub at Rotterdam port via shipping and onshore pipelines. The member states involved in the Aramis project are the Netherlands, Belgium, France and Germany.

The Northern Lights initiative, launched in Norway, is heading toward its next chapter

Accessible offshore storage sites can provide over 400 million tonnes of CO2 storage capacity, according to the documentation. The system is scheduled to start operations in early 2026. The remaining EUR 33 million is for CO2next, a project for an import terminal.

The Northern Lights initiative received EUR 131 million. It is a cross-border project linking future CO2 capture facilities in several EU member states and Norway. The EU CCS Interconnector, a CO2 infrastructure project in Gdańsk in Poland, was awarded EUR 2.5 million.

Of note, the Porthos project, located in the port of Rotterdam, too, is the only big CCS endeavor past a final investment decision.

Half of captured CO2 envisaged for production of e-fuels, synthetic materials

The European Commission’s draft reportedly includes an annual target of 100 to 200 million tons of CO2 to be captured not from industrial emissions, but directly from the atmosphere.

The EU executive’s draft assessment of the impact on the climate targets for 2040 shows that 26 to 41 million tons of CO2 would need to be captured per year from power plants that burn fossil fuels, according to Table.Media. The news outlet added that the projection climbs to 50 million tons from 2050. It is part of the target of 450 million tons.

Only 247 million of 453 million tons are planned to be put away permanently, in geological storage

At least 136 million tons would need to be sequestered from industrial processes per year. It compares to 232 million tons from bioenergy (plants) with carbon capture and storage – BECCS, and direct air carbon capture and storage – DACCS, the article adds. Upgrading biogas to biomethane will result in 30 million tons of CO2 envisaged to be captured every year.

The plan involves storing 247 million tons of carbon dioxide underground (permanently). Another 147 million tons would be used per year to produce synthetic fuels, also known as e-fuels. The production of synthetic materials accounts for 59 million tons, according to the report.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Rystad Energy Power-grids-investing-USD-3-1-trillion-2030-global-warming

Power grids require investing USD 3.1 trillion by 2030 to limit global warming

21 February 2024 - Outdated and inadequate power grids are one of the most significant stumbling blocks for the energy transition, Rystad Energy warned

serbia necp pks ldk energy planning

Pivotal project aiming to reshape energy landscape in Serbia was finalized successfully

15 February 2024 - The IPA financed project "Further Development of Energy Planning Capacities" has served as an example of collaboration among all the energy sector stakeholders in the country for methodological strategic planning

First record broken this year January 2024 warmest in history

Another climate record broken: January 2024 warmest in history

09 February 2024 - January 2024 was the warmest in history and also the eighth consecutive month in which global temperatures reached all-time highs

EUKI, for the eighth year in a row, inviting climate projects to apply for grants

EUKI invites climate projects to apply for grants for eighth year in row

07 February 2024 - The European Climate Initiative (EUKI) has once again opened a call for donations for cross-border climate action projects