Öresundskraft Kraft & Värme and INEOS, on behalf of Project Greensand, have signed an agreement to investigate the opportunity to store up to 210,000 tonnes of CO2 annually from Sweden in Denmark.
The captured carbon dioxide is planned for safe and permanent storage in Greensand storage facility located in the Danish part of the North Sea, with the first volumes expected to be stored from 2028.
This cross-border collaboration represents a significant step toward realizing the potential of carbon capture and storage (CCS) in the Greater Copenhagen Area and beyond.
It also underlines the vital importance of international cooperation in achieving climate goals and mitigating global climate change.
The companies behind Greensand are the current holders of the storage license (IRIS) – INEOS Energy Denmark, Harbour Energy, and Nordsøfonden, which is the Danish state’s subsurface company.
“This agreement with INEOS marks an important milestone for us. We are at the forefront among our European industry peers when developing a sustainable and fully integrated CCS solution for energy recovery from waste.
“Our project has been awarded $61.3 million from the EU Innovation Fund and is one of Sweden’s first CCS initiatives. Our goal is to offer climate-neutral district heating and achieve negative emissions. Connecting Swedish carbon capture with Danish storage infrastructure highlights the importance of international cooperation in reaching climate goals. We are proud to be working with INEOS on this,” said Stefan Håkansson, CEO of Öresundskraft.
“Storing CO2 is essential if Europe is to reach its climate targets. This agreement with Öresundskraft demonstrates how industrial players in different countries can work together to build scalable, international CCS value chains,” added Mads Weng Gade, CEO, INEOS Energy Europe.
In December 2024, INEOS and its partners Harbour Energy and Nordsøfonden made the Final Investment Decision (FID) to move ahead with full-scale CO2 storage operations in the Nini Field.
The companies behind Greensand are the current holders of the storage license (IRIS) – INEOS Energy Denmark, Harbour Energy, and Nordsøfonden, which is the Danish state’s subsurface company.