Denmark and the Netherlands signed a Memorandum of Understanding on Oct. 16 at the EU Environment Council in Luxembourg, agreeing to partner on CO2 capture and storage (CCS) and CO2 transport.
According to Dutch Climate Minister Rob Jetten, carbon storage is a short-term, cost-effective measure to bringing down greenhouse gas emissions. The development of carbon storage projects also contributes to carbon removal in the future, he added.
“(…) We are taking important steps towards an open European market for CO2 storage that contributes to Europe’s climate goals and economy,” Jetten said.
This March, the EU Commission established a target of 50 million metric tons of annual CO2 dioxide injection capacity by the end of the decade.
The Memorandum of Understanding, which follows a similar trilateral agreement with Belgium, facilitates the transfer of CO2 between the two nations for subsequent storage in vacant oil and gas reservoirs situated within the exclusive economic zones (EEZ) of both countries in the North Sea.
Denmark has more storage space for CO2 emissions than the country emits, and the Netherlands has ambitious agenda in the sector, Aagaard said, according to a press release from the Energy Ministry in Denmark. The two countries joining forces will be key to building up the industry and reaching EU climate targets, he also said.
Denmark and the Netherlands also partnerd in June to increase cooperation in green hydrogen with Namibia.
Both nations said the EU should phase out all fossil fuels during the Climate Council on Oct. 16.