Porthos has made a final investment decision to build the Netherlands’ first big CO2 transport and storage system. Construction in Rotterdam will begin in 2024, with the Porthos system anticipated to be operational by 2026. The construction of Porthos infrastructure will cost US$1.4 billion. Porthos will now award contracts to complete the project now that the final investment decision has been made.
Porthos is a collaboration between EBN, Gasunie, and the Port of Rotterdam Authority.
Several firms in the Rotterdam port, including Air Liquide, Air Products, ExxonMobil, and Shell, will use Porthos for transportation and storage. To deliver CO2 to Porthos, these firms will invest in their own capture
installations.
“CO2 storage is crucial if we want to achieve the climate goals in the Netherlands. This investment decision is an important starting point for future developments in CO2 storage in the Netherlands,” stated Hans Meeuwsen, director of Porthos.
Also, Porthos will carry the CO2 through Rotterdam to depleted gas fields in the North Sea, around 20 kilometres off the coast, where it will be permanently stored at a depth of 3 to 4 kilometres under the seabed.
Moreover, Porthos plans to store about 2.5 Mton per year for 15 years, totalling around 37 Mton. With that, Porthos has contracted its full storage capacity. The onshore transport system under construction allows for future CO2 storage projects.
Porthos collaborates with TAQA Energy, the current operator of the P18 gas fields, as well as specialized contractors and suppliers such as Denys N.V., Allseas, LMR Drilling GmbH, Mannesmann Grossrohr GmbH, Corinth Pipeworks, Equans, Ensco Offshore, Van der Ven, and Bonatti, to realize the project.
The European Union recognised Porthos as an essential initiative in fulfilling climate objectives, designating it as an initiative of Common Interest and awarding it a subsidy of €102 million (around US$108 million).
