Nordsøfonden invests in Greensand Future

10-12-2024

The partners in the offshore CO2 storage licence C2023-01 (INEOS, Harbour Energy and Nordsøfonden) have taken the final investment decision to establish a CO2 storage facility in the Danish North Sea. Injection and storage activities are expected to commence in late 2025 or early 2026.

On Monday, 9 December 2024, the Greensand partners have taken the decision to invest in the Greensand Future Project. The Greensand Future Project is the first commercial phase of the Greensand project, which will establish Denmark’s first CO₂ storage site at the Nini field in the Danish North Sea.

Greensand operates within the C2023-01 IRIS offshore CO₂ storage licence and has already completed an EUDP-supported pilot project, which achieved Denmark’s first-ever CO₂ storage in the spring of 2023. With the investment decision now made, the project moves into its next phase. The partners expect that the first commercial CO₂ storage operations will begin in late 2025 or early 2026. Greensand can thereby become the first project within EU to store CO₂ with the goal of reducing CO₂ emissions to the atmosphere.

With the Greensand Future Project, the partners aim to store up to 400,000 tonnes of biogenic CO₂ annually. In the coming years, it is intended to scale up the project with both fossil and biogenic CO₂. The ambition is to reach full capacity of up to 8,000,000 tonnes of CO₂ per year by 2030.

Christian Frigast, Chairman of the Board of Nordsøenheden, commented:

“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. The Greensand Future Project has secured commercial agreements across the entire value chain, demonstrating that large-scale CO₂ 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.

Nordsøfonden is in the unique position of participating in all CO₂ storage licences in Denmark. With the Greensand Future Project we look forward to contributing to the realisation of Denmark’s first CO₂ storage site whilst at the same time continuing to work on all of our other licences to help achieve Denmark’s climate goals through CO₂ storage in the coming years.”

Read INEOS’ press release.