Porthos is developing a project in which CO2 is transported and stored in empty gas fields under the North Sea. The project aims to construct a pipeline in the Rotterdam port area, to which multiple companies can connect. The Porthos infrastructure is set up as an open access and non-discriminatory system.
Porthos works toegether with four potential customers. Below you will find more information about the commercial process. At the moment no new companies can participate in Porthos, no storage capacity is available. Porthos is exploring the possibilities for the sequel. Do you have questions or are you interested in future possiblities for CO2 transport and storage? Please contact us via info@porthosCO2.nl.
Expression of Interest
In the Spring of 2019, Porthos gauged the interest of industries in the project. This so-called Expression of Interest procedure showed that companies had sufficient interest to further develop the project. Porthos then started to focus on closing Joint Development Agreements with companies.
Joint Development Agreement
With the Joint Development Agreement (JDA), Porthos and the companies agree to – in short – jointly work towards the conclusion of transport and storage contracts.
In the autumn of 2019, Porthos has signed JDAs with Air Liquide, Air Products, ExxonMobil and Shell. Those four companies are called the JDA partners. In the first JDA, Porthos committed to continue with the permit procedures and the technical preparation of the project. The companies committed to start with the permit procedures and the design of their capture installations.
In the fall of 2020, the sequel to the first JDA was signed: JDA2. In this agreement, Porthos and the four aforementioned parties have agreed to keep working together towards the realisation of definite transport and storage contracts.
Regular contacts are maintained on an informative basis with companies that are interested in Porthos, but were not yet able to conclude a JDA in the autumn of 2019.
Transport and storage contract
The next step is to sign transport and storage contracts. Important is that the JDA partners can apply for government SDE++ subsidies in the autumn of 2020. SDE++ subsidy is necessary to bridge the difference in costs for ETS and the total costs for capture, transport and storage of CO2. This helps the companies to remain competitive while contributing to achieving the Dutch Climate Agreement objectives.
Porthos and the companies are expected to sign the definite transport and storage contracts before the summer of 2021.