Porthos is on schedule to store 2.5 million tonnes of CO2 annually from the industry in empty gas fields beneath the North Sea from 2024.
By the end of last year, four companies registered for a total of €2 billion from the sustainable energy transition scheme (SDE) for the next 15 years.
This year, the Porthos project organisation that includes EBN, Gasunie and the Port of Rotterdam Authority will be working on the technical preparations of laying pipes on land and on the sea bed, building the compressor station and adjusting the platform at sea.
It is expected that the subsidy will be granted to the four companies Air Liquide, Air Products, ExxonMobil and Shell shortly. According to expectations, the permit procedures will be completed later this year.
The companies will use 2021 especially to prepare for the construction of the capture plants.
The final investment decision for Porthos, the project for CO2 capture and storage in Rotterdam, has been planned for 2022.
Capture and storage of CO2 (Carbon Capture and Storage, CCS) is one of the cheapest ways to meet the climate targets in the short term.
Between 2008 and 2019, about €4.5 billion in SDE funds was paid to many projects in the Netherlands and because of these projects about 42 million tonnes of CO2 less has ended up in the atmosphere.
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