INEOS led Greensand to become the first full scale CO2 storage facility in EU to help mitigate climate change

INEOS, the day to day operator, with its partners Harbour Energy and Nordsøfonden, has made a Final Investment Decision (FID) into the first commercial phase ‘Greensand Future’ with storage operations set to begin at the end of 2025/early 2026. This decision paves the way for expected investments of more than $150 million across the Greensand CCS value chain.

Greensand has entered commercial agreements throughout the entire supply chain, from CO₂ emitters, to logistics, storage and shipping, backed by the funding necessary to make final injection and permanent storage a reality for Denmark and Europe.

Sir Jim Ratcliffe Chairman of INEOS says "Greensand Carbon Storage is a far better way to decarbonise Europe than deindustrialise. That just moves the problem elsewhere, doesn’t solve it, and destroys jobs. Our Investment in Greensand helps secure a sustainable future for both the planet and the economy."

INEOS, the day to day operator, of ‘Greensand Future’ and its partners, Harbour Energy, and Nordsøfonden has today announced the Final Investment Decision (FID) to safely and permanently store carbon dioxide from Danish emitters in a depleted oil field in the Danish North Sea. 

With the aim of initiating storage operations into the INEOS-operated Nini field in the Danish North Sea at the end of 2025/early 2026, ‘Greensand Future’ will become the EU’s first operational CO2 storage facility intended to mitigate climate change. The FID paves the way for expected investments of more than $150m across the Greensand CCS value chain to scale storage capacity. 

Sir Jim Ratcliffe Chairman of INEOS says "This is a breakthrough for Carbon Capture and Storage. Greensand Future will be the first CO2 storage facility in operation in the EU supporting both Danish and EU’s climate objectives.” 

Greensand Future is a full industrial CCS value chain built on a scalable platform. This platform allows for the gradual expansion of storage capacity as CO2 volumes increase. It is directly applicable to other onshore and offshore storage projects, contributing to the much-needed global acceleration of CCS deployment. 

Mads Gade, Head of Denmark, INEOS Energy, says: “With Greensand Future and the establishment of the full value chain we are sending an important message to the Danish and European emitters currently considering large-scale capture projects, that it can be done.” 

Greensand Future aims to safely capture and permanently store 400.000 tons of CO2 each year as a start allowing for the gradual expansion of storage capacity towards 2030 as CO2 volumes increase with a potential to store up to 8.000.000 tons of CO2 per annum. 

The European Commission has estimated that the European Union will need to establish a carbon storage capacity of 250 million tonnes of CO2 per year by 2040 to achieve the objectives of the Paris Agreement. CCS is also considered a key technology in reaching the Danish 2045 net-zero targets. 

The CO2 in the first phase of Greensand Future will be captured and liquified at Danish biomethane production plants, transported to the port of Esbjerg, and then shipped by Royal Wagenborg to the Nini field in the Danish North Sea for safe and permanent storage. 

Last year, on March 8th, 2023, the INEOS-led pilot Project Greensand conducted the world’s first cross-border offshore CO2 storage intended to mitigate climate change as His Majesty King Frederik of Denmark officially initiated the first injection of CO2 into the Nini field during the pilot phase of Project Greensand. 

Mads Gade, Head of Denmark, INEOS Energy, says: “Last year we were the first in the world to succeed in developing a value chain for safe and efficient capture, transport and storage of CO2 across national borders. Now we are proud to take the next step, building on the learnings from the pilot and aiming to deliver a fully operational commercial project by end 2025/early 2026”. 

The results of Project Greensand have been verified by the independent and world-leading provider of risk, verification and standardisation services, DNV. The thorough technical verification ensures that the stored CO2 remains safely and permanently in the closed Nini West reservoir 1,800 metres below the North Sea seabed, as expected. 

Mads Gade, Head of Denmark, INEOS Energy, says: “It is documented and independently verified that Greensand has a well-functioning storage, where large amounts of CO2 that would otherwise have been emitted into the atmosphere can be stored”. 

About INEOS 
INEOS is a global manufacturer of petrochemicals, specialty chemicals and oil products. In 25 years, the Company has grown into a global player: its production network spans 183 sites in 26 countries throughout the world employing more than 26,000 people. 

INEOS Energy operates the Siri field area and the South Arne and the Solsort in Denmark. INEOS operates the leading carbon storage project in Denmark – Project Greensand – which is a pioneering carbon capture and storage CCS) initiative aimed at reducing greenhouse gas emissions by capturing CO2 and securely storing it in depleted oil and gas fields in the North Sea. 

Greensand Future builds on the successful Project Greensand pilot which, in March 2023, demonstrated for the first time the feasibility of cross-border, offshore CO2 storage across the full value chain - from capture to transport and storage. Greensand Future aims to initiate storage operations into the INEOS-operated Nini field in the Danish North Sea at the end of 2025/early 2026, which will make Greensand Future the EU’s first operational CO2 storage facility intended to mitigate climate change. Once operational, Greensand Future aims to safely capture and permanently store 400.000 tons of CO2 each year as a start allowing for the gradual expansion of storage capacity as CO2 volumes increase with a potential to store 8.000.000 tons of CO2 per annum. 

At the same time, work is also underway to investigate whether it is possible and safe to store CO2 underground on land in Denmark, and earlier this year, the Minister for Climate, Energy and Utilities awarded INEOS, Harbour Energy and Nordsøfonden an exploration license for an area of the Danish subsurface in Jutland in the Gassum reservoir. The experience from Greensand will be included in the work to demonstrate safe storage also on land. 

About Harbour Energy 
Since its creation in 2014, Harbour has grown to become one of the world’s largest and most geographically diverse independent oil and gas companies. Today, Harbour has significant production in Norway, the UK, Germany, Argentina and North Africa. Harbour benefits from competitive operating costs and resilient margins, and a broad set of growth options including near-infrastructure opportunities in Norway, unconventional scalable opportunities in Argentina and conventional offshore projects in Mexico and Indonesia. With low GHG emissions intensity and a leading CO2 storage position in Europe, Harbour remains committed to producing oil and gas safely and responsibly to help meet the world’s energy needs. Harbour is headquartered in London with approximately 5,000 staff and contractors across its operations and offices. 

About Nordsøfonden
Nordsøfonden is the Danish state company tasked with generating value for Danish society by optimising the potential of Denmark’s subsurface assets. Nordsøfonden stands on two pillars; production of oil & gas, thereby helping ensure supplies of energy and raw materials, whilst at the same time participating in all licenses for underground carbon storage, where Nordsøfonden works to ensure reduction of emissions to the atmosphere.