Today, in the presence of HM King Willem-Alexander of the Netherlands and HM King Frederik of Denmark INEOS and Royal Wagenborg have signed a landmark agreement on the delivery of CO2 transportation.
This multi-year agreement, a significant step towards advancing carbon capture and storage (CCS) within the European Union, will see Royal Wagenborg supply a newly built CO2 carrier dedicated to Project Greensand, led by INEOS with its partners Harbour Energy and Nordsøfonden.
Project Greensand has already marked a world-first achievement by demonstrating the safe, cross-border transport of CO2 for injection into a depleted oil field. In March 2023, in a historic demonstration of climate action, HM King Frederik of Denmark authorized the first injection of CO2 into Danish subsoil in the North Sea, marking a crucial advancement for sustainable carbon management in the region.
The agreement with Royal Wagenborg marks the first deployment of a dedicated CO2 vessel for Project Greensand, a crucial component in establishing a full CO2 capture, transport, and storage value chain. This purpose-built CO2 carrier, designed to meet the highest standards of safety and efficiency, will facilitate large-scale transport of CO2 to the Greensand storage site in the Danish North Sea.
David Bucknall, CEO INEOS Energy said: 'The lack of dedicated CO2 carriers has been a bottleneck for advancing CCS projects within Europe. The collaboration between INEOS and Royal Wagenborg serves as a breakthrough moment for the EU’s climate goals, offering a viable solution for large-scale CO2 transport. The agreement highlights the commitment of INEOS, Royal Wagenborg, and the governments of the Netherlands and Denmark to achieving a sustainable and low-carbon future.'
Mads Weng Gade, Head of INEOS Energy DK said: 'INEOS has been in the leading edge of demonstrating safe and efficient storage in the pilot phase of Project Greensand, and we have the ambition to establish the first CO2 storage within the EU in Greensand by 2026. The agreement between Royal Wagenborg and INEOS is a very important step towards the establishment of the full value chain of CCS on an industrial scale.'
Source: INEOS
