United Kingdom – Wintershall Dea, a leading European independent oil and gas company, has entered a second carbon capture and storage (CCS) project in the United Kingdom. The company has acquired a ten per cent stake in the ‘Poseidon’ CCS project from Carbon Catalyst.
The Poseidon CCS project is one of the largest CO2 transportation and storage projects in the UK, with a total annual storage capacity of up to 40 million tonnes in its full development stage. It envisages the permanent geological storage of approx. one billion tonnes of CO2. The project is expected to connect a wide range of CO2 emitters across the East and Southeast of England and has the potential to significantly decarbonise the area.
Permanent CO2 storage
The Poseidon CCS project will use a combination of depleted reservoirs and saline aquifers to safely and permanently store CO2. The CO2 will be transported via the Perenco-operated Bacton Gas Terminal to the offshore ‘Poseidon’ storage site.
The Poseidon CCS project has the potential to significantly reduce CO2 emissions from the UK’s industrial sector. The project is expected to be operational by 2029 and could play a major role in helping the UK achieve its net-zero emissions target by 2050.
