CapeOmega And Neptune Energy Announce Massive Carbon Storage Project

CapeOmega And Neptune Energy Announce Massive Carbon Storage Project - Carbon Herald
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CapeOmega and Neptune Energy have begun working on NoordKaap – a large-scale concept for a cross-border carbon storage solution that will allow industrial companies to sequester CO2. RWE is reported to also be on board and is exploring how the project can ship CO2 from its biomass Eemshaven plant to the store the gas in the Dutch North Sea.

Evy Glørstad, CEO CapeOmega AS, said: “NoordKaap comprises an integrated partnership of all stakeholders in the value chain, from emitters to storage facility owners, to ensure close coordination of these proposals as part of the development of a successful decarbonisation strategy.”

The join CapeOmega Neptune Energy project is expected to become operational in 2028 and will adopt a network-based approach to carbon capture and storage, aimed at reducing costs and scaling the infrastructure to benefit companies from several European industrial clusters that use ship transport.

The project will involve utilizing vessels that can both transport carbon dioxide from and to terminals, as well as possessing the capability to directly inject the CO2 at offshore sites.

Relevant: EU Commissioner For Energy Announces ‘Strategic Vision’ For Carbon Capture In 2023 

Lex de Groot, Managing Director of Neptune Energy in the Netherlands, said: “CO2 storage is a crucial component for meeting the EU’s climate goals and for a well-functioning CCS market. Both emitters and storage providers need to be able to transport CO2 safely, and we know access to pipelines will be limited for some, so we are focusing on both types of transport to offshore storage facilities: piping and shipping.”

The addressable market includes Germany, Belgium, Scandinavia and northern France from where CO2 will potentially be taken and safely sequestered at Norwegian and Dutch offshore sites.

Several ports and specialist companies have also been announced as partners – Groningen Seaport, KNCC, Vopak and Return Carbon.

This is the second large-scale carbon storage project that Neptune Energy has been involved in recently. Earlier this week the company announced the signing of a memorandum of understanding with Horisont Energi and German energy giant E.ON to explore the creation of a European carbon capture value chain.

Read more: Horisont Energi, Neptune Energy, and E.ON To Work On EU-focused Carbon Capture Project

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