Italy has announced plans to transport and store CO2 obtained through carbon capture in Greece according to a report in Balkan Green Energy news. The two countries, alongside France are working on developing a carbon capture infrastructure network in the Mediterranean area.
The initiative on the Italian side is driven by the country’s target of sequestering 3.6 million tonnes of CO2 annually, part of its National Energy and Climate Plan (NECP).
The hydrocarbon reservoir Prinos, south of Kavala and east of the port of Thessaloniki, is being considered for the purpose of sequestering the gas. It’s exact capacity hasn’t been determined but it could range between 500,000 to 1 million tonnes.
Greek company Energean is exploring the potential of the project and will take advantage of the European Union’s Recovery and Resilience Facility program. An application for additional financing from the EU Innovation Fund has also been submitted with countries across Europe using it to fund carbon capture projects like Porthos in the Netherlands and ANRAV in neighbouring Bulgaria.
Relevant: Porthos Plant Granted $2.4 Billion By The Dutch Government For Carbon Capture
According to a statement earlier in 2023 by Energean’s Vice Chairman Constantine Nikolaou, the studies for the project have been completed with the help of Wood and Halliburton. The timeline for the project is that funding can be received by 2026, with operations starting in 2030.
Italy is also developing its Ravenna CCS Hub, while Greece is working on RECODE, a carbon capture hub close to the Piraeus port. A potential network including those (and future projects) between the three countries could become the foundation for export and trade of the greenhouse gas and will likely look to partner with other countries in the Mediterranean.
Read more: 10 Carbon Management Projects To Receive Grants From EU Innovation Fund
