Two years ago - on March 8th 2023 - we celebrated First Carbon Storage, when H.M. King Frederik of Denmark gave the order to inject the first CO2 in Greensand. Sir Jim Ratcliffe, Chairman of INEOS, said: “This is a breakthrough for Carbon Capture and Storage. It is the first time carbon dioxide has been successfully captured, transported cross-border and safely stored offshore anywhere in the world.” Now, two years after we have based on the conclusions from the pilot project, we have taken the next step with the final investment decision. Together with our partners INEOS is working dedicated to take Greensand into operation end 2025/start 2026 as the first CO2 storage within the EU.
Today, marks exactly two years since His Majesty King Frederik of Denmark officially initiated a world first as part of the pilot phase in the INEOS-led Project Greensand. First Carbon Storage was a breakthrough in Carbon Capture and Storage in Denmark and Europe. It demonstrated the feasibility of CCS after CO2 from Belgium was successfully captured, transported and permanently stored under the Danish North Sea. The development continues in Greensand, where a final investment decision was announced as recently as December 2024. The FID paves the way for expected investments of more than $150m across the Greensand CCS value chain to scale storage capacity. With the aim of initiating storage operations into the INEOS-operated Nini field in the Danish North Sea at the end of 2025/early 2026, ‘Greensand Future’ will become the EU’s first operational CO2 storage facility intended to mitigate climate change. Greensand Future aims to safely capture and permanently store 400.000 tons of CO2 each year as a start allowing for the gradual expansion of storage capacity towards 2030 as CO2 volumes increase with a potential to store up to 8.000.000 tons of CO2 per annum. The first storage of CO₂ in Denmark's underground two years ago was followed by remarks from HM King Frederik, the President of the European Commission, Ursula von der Leyen, and the Minister for Climate, Energy, and Utilities, Lars Aagaard. HM King Frederik: Fifty years ago, my father, Prince Henrik, marked the beginning of what became a Danish oil and gas adventure in the North Sea, creating thousands of jobs in Denmark. Today, we are opening a new chapter for the North Sea—a green chapter. The Danish underground holds great potential for storing CO₂, and it gives me great joy today to reverse the flow in the pipes and send CO₂ back into the Danish underground for the benefit of the climate, Denmark, Europe, and our planet. President of the European Commission, Ursula von der Leyen: This is a big moment for Europe’s green transition, and for our clean tech industry. The first ever full value chain, for carbon capture and storage in Europe. You are showing that it can be done. That we can grow our industry through innovation and competition, and at the same time, remove carbon emissions from the atmosphere, through ingenuity and cooperation. This is what Europe’s competitive sustainability is all about.” Minister for Climate, Energy, and Utilities, Lars Aagaard: CO₂ storage in Denmark is no longer just a concept on paper – it is now a reality, bringing us a significant step closer to achieving our climate goals. Fifty years ago, when we talked about the North Sea, it was about gas and oil. But today, I can instead call it an emerging green business adventure – and that is a big deal.