Greece moves forward with its carbon capture and storage (CCS) program, with positive developments taking place in infrastructure lately.
The entire initiative is comprised of an underground CO2 storage in Prinos, offshore Kavala, together with new pipelines to carry the gas from industries to the Revythoussa island in Attica for liquefaction.
Energean, who is responsible for Prinos CO2, said this week that it expects the market test to take place this summer. It will show potential interest on behalf of industrial consumers and will allow the further maturation of the entire project.
First drilling is projected for the beginning of 2027
Furthermore, the offshore platform “Omega” is expected to arrive soon in Greece. Based on the timeframe, first drilling is projected for the beginning of 2027. Energean also moves forward with an application to the authorities for a storage license covering the full 2.8 million tonne annual capacity of Prinos CO2.
When it comes to the CO2 pipeline network, the National Natural Gas System Operator (DESFA) announced that planning for the first 35 kilometer part is now complete.
DESFA also ensured EUR 170 million in funding from the European Union’s Innovation Fund, in order to build the liquefaction facility in its LNG terminal of Revythoussa.
Emitters worried about ETS and CCS regulation
Things may be moving forward when it comes to infrastructure, but there is still hesitation on the emmiters side. Cement groups said that more regulatory clarity is required before they make their investment decisions for CCS.
Titan mentioned a high degree of risk that companies will have to shoulder, as well as the importance of setting a specific storage allocation for CO2.
Heracles awaits the European Trading System (ETS) review from Brussels, to be announced in mid-July. Another notable development is the new Industrial Decarbonization Bank with a budget of EUR 100 billion, to be put in public consultation in September this year.
