The Danish Energy Agency has announced that it will award 197 million DKK (€26 million) to the INEOS led consortium backing Project Greensand for CCS (carbon capture storage). The carbon storage project will support Denmark’s ambitions to reach a 70% CO2 reduction by 2030.
“We are very pleased and thankful for the trust that has been shown to the entire consortium behind Project Greensand. Carbon capture storage is one of the steps needed to reach the ambitious climate goals in Denmark, and we as a consortium are very proud to be allowed to contribute to that through this project,” said David Bucknall, CEO INEOS Energy.
The award is based on a political decision by The Danish Government and a broad majority of political parties in December 2020 to allocate a total of DKK 197 million earmarked for the development and demonstration of CO2 storage in the North Sea.
“The entire consortium has been waiting in the starting block and we are ready to start working on the project so we can help reach the ambitious climate ambitions as soon as possible,” said Mads Gade, Head of INEOS Energy, Denmark.
“This is a huge achievement and a big step towards the net zero ambition for INEOS”, said David Bucknall, CEO of INEOS Energy.
The Storage potential in Project Greensand is ½-1 million ton of CO2 per year from 2025, increasing to 4-8 million tons of CO2 per year by 2030. The Greensand Area could account for all of the CO2 storage proposed in the Danish Climate Program.
By Ineos, Press Release
Source: ineos.com
Neste Corp. will collaborate with Dutch terminals operator Tepsa for the storage and handling of liquefied waste plastics at Rotterdam, Netherlands, to enhance Neste’s chemical recycling logistics infrastructure in Europe. Neste said that following successful industrial-scale processing runs at its integrated crude oil refining and petrochemicals site at Porvoo, Finland.
Archroma, a global leader in specialty chemicals towards sustainable solutions, has announced that Rajiv Sharma has been appointed as the new Chief Executive Officer (CEO) with key responsibility for the Textile Effects business, effective October 1, 2024. Current Group CEO Mark Garrett will transition to the Archroma Board of Directors.
The challenges facing the European chemical industry, particularly in Germany, have compelled the world’s largest chemical maker to rethink its scale and diversified approach. BASF has announced a strategic shift, splitting its portfolio into “core” and “standalone” businesses.
