The German oil and gas producer Wintershall Dea and the UK chemical company INEOS will develop the Greensand carbon capture and storage (CCS) project in the Danish North Sea, which targets a storage capacity of up to 1.5 MtCO2/year by 2025 and up to 8 MtCO2/year by end-2030. The two companies will each have a 40% stake in the project, while the remaining 20% will be held by Denmark’s state-owned company Nordsøfonden.
The project announcement follows Denmark’s decision to grant three CO2 storage licences in the North Sea, one to Wintershall Dea and INEOS and two to France’s TotalEnergies. The licences cover areas in depleted oil and gas fields and unexplored saline aquifers. Exploration licences will have a 6-year term but can be extended for up to 30 years for storage operations if a suitable location for CO2 storage is found.