19 November 2020
Porthos and companies press ahead with CCS system
In the coming period, Porthos will continue to work together with four companies on preparations for the capture, transport and storage of CO2. The partners in question are Air Liquide, Air Products, ExxonMobil and Shell. Porthos and the four companies have signed a new agreement to this end, which follows on from an agreement signed by the same parties in the autumn of 2019.
The capture and storage of CO2 (carbon capture and storage; CCS) is an important short-term solution for preventing a large volume of CO2 from being released into the atmosphere – at relatively low costs. The capture is to take place at the hydrogen producers and refineries in Rotterdam. Transport to and storage beneath the North Sea is being prepared by Porthos.
In the new agreement, Porthos and the companies have agreed to keep working together towards the realisation of definite transport and storage contracts. In the next stage, both Porthos and its private sector partners will be completing various technical studies and permit procedures, with the latter group furthermore applying for SDE++ grant.
SDE++ is the Netherlands’ national grant programme for carbon reduction initiatives. This funding is required to bridge the gap between Emissions Trading Scheme (ETS) costs and the total outlay for capturing, transporting and sequestering CO2. This support allows companies to make a tangible contribution to the Netherlands’ achievement of its climate targets while remaining competitive in market terms.
Porthos and its four partners are expected to sign the definite transport and storage contracts before the summer of 2021. The associated permit procedures will run until the end of 2021, early 2022 – after which the partners will take a definite investment decision. The construction of the Porthos infrastructure has been scheduled for 2022 and 2023, with the system being taken into operation at some point in 2024.