Europe’s first major CO2 storage facility reaches FID

Greensand Future, billed as Europe’s first operational CO2 storage facility, has reached final investment decision (FID).

It paves the way for expected investments of more than $150m across the Greensand CCS value chain to scale storage capacity, according to INEOS, the day-to-day operator, in conjuction with Harbour Energy and Nordsøfonden.

The project will store CO2 from Danish emitters in a depleted oil field in the North Sea.

Initially it will store 400,000 tonnes of CO₂ each year and as storage capacity gradual expands towards 2030, it could potentially store up to 8m tonnes per year.