1. The Greensand Future Concept – To better decarbonize Europe
Mr. Mads Gade presented updates on the Greensand project, focusing on CCS efforts in the Danish shelf area. The commercial phase, "Greensand Future Concept," aims to capture and store 400,000 tons of CO2 annually, primarily from biogenic sources like biogas. The project has reached significant milestones, including submitting a storage application, securing contracts with emitters, ports, and vessels, and receiving indicative approval from authorities. The first CO2 injection is planned for early 2026, with the potential to scale to 3-8 million tons annually.

Greensand is anticipated to reach breakeven by around 2030, particularly with the addition of more ships and further optimization to reduce costs. Subsidies are necessary to kickstart the industry in the short term. The goal is to drive down costs and create a viable financial model that balances the expense of industrial carbon capture with the revenue from negative emission credits, making the project sustainable in the long term.

2. The Prinos CO2 – The cornerstone for mediterranean decarbonization
Mr. Nikolas Rigas emphasized the importance of showcasing successful examples in the carbon storage industry, noting that visible progress worldwide helps build public and industry acceptance for this decarbonization solution. While Europe has made significant strides in the North Sea region, the Mediterranean has been largely overlooked, despite its substantial CO2 emissions from industrial hubs in countries like Italy, Greece, Spain, and France.

For Greece and the broader region, the Prinos CO2 storage project stands as the only viable option before 2030. The project has strong backing from the Greek government, who has committed €100 million from the Greek Recovery and Resilience Facility, positioning it as a cornerstone of Greece’s decarbonization strategy alongside advancements in wind and solar energy. The Prinos project is advancing through its development phases, with a storage permit expected soon and a Final Investment Decision (FID) targeted for Q1 2026, aligning with the timelines of emitters’ projects. Mr. Rigas also stressed the importance of avoiding mistakes in the early stages of the industry to prevent negative press and ensure long-term success.

3. CCUS, with the right regulatory framework, can bridge the gap between decarbonization and competitiveness, especially for hard-to-abate industries
Ms. Lucia Verardi highlighted the growing momentum for CCUS technologies, fueled by recent shifts in energy markets. However, challenges persist, including infrastructure gaps, regulatory barriers, financing issues, low carbon prices, and the need for public acceptance. While the European Commission’s Clean Industrial Deal aims to decarbonize hard-to-abate sectors without deindustrialization, specific support for CCUS is needed to send a strong political signal to member states.

Key priorities for scaling up CCS include building interconnected CO2 transport and storage infrastructure, establishing a viable business case through stable regulations and public funding, and enabling diverse carbon capture opportunities, such as biogenic and industrial emissions. A well-functioning CCUS market requires robust CO2 infrastructure to connect industrial clusters to storage sites, complemented by flexible, multi-modal transport options to address regional differences. Additionally, adaptable regulatory frameworks and international cooperation, particularly in the Mediterranean basin, are essential for efficient CO2 management.