The consortium partners behind Project Greensand have taken the final investment decision (FID) for what is the first full-scale carbon storage facility in the EU, investing $150 million in commercial agreements across the entire value chain, from CO2 emitters to logistics, storage, and shipping.
On December 9, INEOS Energy, the day-to-day operator, with its partners Harbour Energy and Nordsøfonden (the Danish North Sea Fund) reached the FID to invest in the Greensand Future Project, which is the first commercial phase of the Greensand project that will establish Denmark’s first CO2 storage site at the Nini field in the Danish North Sea.
This is a breakthrough for CO2 capture and storage. Greensand Future will be the first operational CO2 storage facility in the EU and will contribute to both Denmark’s and the EU’s climate goals,” said Jim Ratcliffe , Chairman of INEOS.
The project operates within the C2023-01 IRIS offshore CO2 storage license and has completed an EUDP-supported pilot project which achieved Denmark’s first-ever CO2 storage in the spring of 2023.
With the FID now made, the project moves into the next phase, with first commercial CO2 storage operations to begin in late 2025 or early 2026.
The Greensand Future Project aims to store up to 400,000 tonnes of CO2 annually in the initial phase, with plans to increase capacity to up to 8 million tonnes annually by 2030.
The CO2 in the first phase of Greensand Future will be captured and liquified at Danish biomethane production plants, transported to the port of Esbjerg, and then shipped by Royal Wagenborg to the Nini West reservoir to be stored 1,800 meters below the seabed.
Project Greensand marked a world first on March 8, 2023, with the first-ever injection of CO2 in the North Sea , demonstrating that captured CO2 can be transported across borders and stored offshore. A couple of months later, the classification society DNV verified the safety of all aspects of the project’s CO2 storage.
“I am pleased that the investment decision for the Greensand Future project has been made. Offering commercial storage as early as late 2025 or 2026 is a highly ambitious but achievable goal,” said Christian Frigast , Chairman of the Board of Nordsøenheden.
“The Greensand Future Project has secured commercial agreements across the entire value chain, demonstrating that large-scale CO 2 storage is within reach. This sends a vital signal to the market and can help accelerate the development of CCS not only in Denmark but also within the EU.”