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The Port of Rotterdam CO2 transport hub and offshore storage (Porthos) has taken a final investment decision to develop the first major carbon dioxide transport and storage system in the Netherlands.
The carbon capture and storage (CCS) project is estimated to cost $1.37 billion (EUR 1.3 billion). Project construction will begin 2024 in Rotterdam, and the Porthos system is targeted to be operational by 2026, Porthos said in a news release Wednesday. Porthos is a joint venture of Energie Beheer Nederland (EBN), Nederlandse Gasunie NV, and the Port of Rotterdam Authority.
Several companies, including Air Liquide, Air Products, ExxonMobil, and Shell, have signified interest in the project and will invest in their own carbon capture installations, according to the release. Porthos will provide carbon transport and storage services, transporting the carbon dioxide through the port of Rotterdam to depleted gas fields in the North Sea, around 12.4 miles (20 kilometers) off the coast, where it will be permanently stored at a depth of 1.9 to 2.5 miles (3 to 4 kilometers) under the seabed.
Porthos said it plans to store about 2.5 million metric tons per year for 15 years, totaling around 37 million metric tons at full storage capacity. The onshore transport system under construction allows for future carbon storage projects, the company added.
Porthos was recognized by the European Union as an “important project in meeting climate targets”, declaring it a Project of Common Interest and awarding a $107.8 million (EUR 102 million) subsidy, the company 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”, Porthos Director Hans Meeuwsen said.
Porthos noted that it is partnering with TAQA Energy, the present operator of the P18 gas fields, and specialized contractors and suppliers such as Denys N.V., Allseas, LMR Drilling GmbH, Mannesmann Grossrohr GmbH, Corinth Pipeworks, Equans, Ensco Offshore, Van der Ven and Bonatti.
In November 2021, the environmental advocacy organization Mobilisation for the Environment filed a case against Porthos’ use of the construction exemption. In November 2022, the Netherlands’ Council of State ruled that the construction exemption lapsed entirely because it violated European nature conservation law. Porthos was granted a remedial opportunity in the form of an ecological assessment.
In August, the Council of State ruled positively on the ecological assessment of the Porthos project. The council concluded that the ecological study showed that Porthos’ nitrogen deposition does not have a significant impact on nearby natural areas, allowing the project to move forward.
To contact the author, email rocky.teodoro@rigzone.com
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