In a pivotal move towards environmental sustainability and the Netherlands’ climate objectives, Porthos has officially made its final investment decision to embark on the construction of the country’s first large-scale CO2 transport and storage system. This groundbreaking initiative is set to be based in Rotterdam and is slated to commence construction activities in 2024. The Porthos system is anticipated to become operational by 2026, with a substantial infrastructure investment totaling €1.3 billion.
The consortium behind this ambitious venture comprises EBN, Gasunie, and the Port of Rotterdam Authority, collectively forming Porthos. This collaborative effort aims to offer vital CO2 transport and storage services to multiple companies within the Rotterdam port. Prominent industry players such as Air Liquide, Air Products, ExxonMobil, and Shell are committed to capturing CO2 emissions and providing them to Porthos. These companies will invest in capture facilities independently, while Porthos will be responsible for transporting the captured CO2 through the Rotterdam port to subsea gas fields situated approximately 20 kilometers off the coast. The CO2 will then be securely stored at depths of 3 to 4 kilometers beneath the North Sea bed. Porthos is set to store approximately 2.5 million tons of CO2 annually for a span of 15 years, resulting in a total of roughly 37 million tons.
Hans Meeuwsen, Director of Porthos, emphasizes the critical role that CO2 storage plays in achieving the Netherlands’ climate goals, stating that this investment decision marks a pivotal starting point for future developments in CO2 storage in the country.
CO2 capture and storage (CCS) represents a key strategy to rapidly reduce substantial CO2 emissions. Consequently, CCS forms a crucial component of the government’s climate policy. Through Porthos, the Rotterdam port industry is projected to reduce CO2 emissions by approximately 10%. Simultaneously, the industry is actively transitioning towards processes rooted in renewable energy and sustainable raw materials. It is important to note that CO2 storage will have implications for horticulture, limiting access to CO2.
To materialize this groundbreaking project, Porthos has teamed up with TAQA Energy, the present operator of the P18 gas fields, in collaboration with specialized contractors and suppliers including Denys N.V., Allseas, LMR Drilling GmbH, Mannesmann Grossrohr GmbH, Corinth Pipeworks, Equans, Ensco Offshore, Van der Ven, and Bonatti. Together, they bear the responsibility for the construction of the requisite infrastructure.
Porthos’ visionary initiative has been recognized and supported by the European Union, designating it as a Project of Common Interest. The EU has pledged €102 million in funding, underlining the significance of this project in realizing collective climate objectives.