London-based exploration and production company Energean has announced its Prinos CO2 project, which is looking for suitable geologies to store carbon dioxide, is advancing to create a new ‘decarbonisation hub’. Initial drilling and well testing is scheduled for 2026.
Three new non-binding memorandums of understanding (MoUs) have been signed, bringing the total MoUs to 15, totalling 6.12 million tonnes a year of storage.
The storage and environmental permit is expected to be received “in the coming months” and first instalments of the Recovery and Resilience Facility and Connecting Europe Facility, two EU financial instruments, are expected imminently.
Prinos is located in the vicinity of Kavala in north-east Greece. It contains reservoirs and underlying aquifers which are suitable for carbon storage.
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