Ports and shipping key to making CCS ‘good business’ for Europe

Ports and shipping key to making CCS ‘good business’ for Europe

March 8, 2024,
by

Naida Hakirevic Prevljak

Ports and the maritime sector are expected to play a significant role in scaling up carbon capture and storage (CCS) in Europe and meeting the energy transition targets.

Image credit Ports of Stockholm

This and other key topics were discussed in an important round table debate organized on March 6, 2024.

As part of the EU Carbon Management Strategy, 280 million tons of CO2 must be captured if the EU is to meet the ambitious target of a 90% reduction of GHG emissions by 2040. Ports, and the maritime sector will be an integral part of transporting CO2 in CCS processes.

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“Ports and specialized CO2 ships and pipeline infrastructure are going to be essential parts of the CCS value chain if we are to meet the 90% GHG emissions reduction target by 2040. Renewed connections between land and sea are required to create a multimodal CO2 transport network. Ports and shipping companies must be ready to seize the opportunity and take part in making CCS good business for Europe as well as making a significant contribution to the green transition,” Bjarne Løf Henriksen, Head of EU Representation of Danish Shipping, commented.

A key point from the round table debate was that coordination regarding the needs of the ports is crucial to shaping the framework around a CCS market. This will additionally help de-risk investments which can spark the European venture of CCS.

“Today’s event underscores the importance of focusing on the CO2 storage value chain in Europe. The technology to achieve the necessary reductions through CO2 storage is available – but now the focus should be on creating the best possible policy framework for capture and storage, benefiting growth, employment, and, notably, the climate. I look forward to working towards this, both now and in the upcoming political term,” MEP Bergur Løkke Rasmussen, said.

Ports and offshore shipping companies are already well under way with preparations and are ready to do their part.

“We need a European political framework and the required infrastructure in place, so capture, transport, utilization, and storage of CO2 on the scale required can be made a reality,” the round table discussion participants concluded.

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”With Project Greensand, we have demonstrated that it is technically feasible to transport CO2 across national borders and store it offshore. Now, we need to scale up carbon capture, transport, and storage. European ports play a significant role in this value chain,” Peter Hindsberger, Senior Regulatory & Public Affairs Manager at INEOS Energy Denmark, pointed out.

“It is crucial to create the necessary conditions for establishing CO2 terminals and temporary storage facilities in ports. Moving very large amounts of CO2 by 2050 to meet climate goals requires the right incentives and necessary infrastructure to be put in place.”

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”Port of Antwerp-Bruges will be an important CO2 hub in the future. We welcome the European framework on CCS that is being developed for the further im­ple­men­ta­tions of projects such as Antwerp@C. We are very thankful for the fruitful and interesting insights today with the relevant stakeholders and policy makers,” Sofie Cuypers, Public Affairs Advisor Port of Antwerp-Bruges, stated.

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