CO2 storage in depleted offshore oil and gas reservoirs is an essential part of the technologies required to drastically reduce greenhouse gas emissions in the short term. The latest UN climate report concludes that unless we make global demand for energy drop below today’s levels (despite an increase in the world’s population by 2 billion people by 2050) the maximum 1.5-degree warming target can only be achieved if we implement CO2 storage on a global scale.
Only a handful of CO2 storage projects have been realized to date, leaving most of the available global storage capacity unused while CO2 emissions to the atmosphere have continued mostly unabated. At the same time significant numbers of suitable CO2 storage locations are being permanently closed off through decommissioning. The urgency of reducing emissions to the atmosphere, combined with the limited time window for storage in empty oil and gas fields make it clear that action is needed now. By shipping CO2 from its source directly to the offshore sink we simplify the logistics of CO2 transportation, making it modular and scalable so we can kickstart the process of storing CO2, utilizing more of the available storage capacity in empty oil and gas fields at sea. As such we do not stand in the way of industrial innovation to reduce CO2 emissions; we offer the possibility to immediately reduce emissions while the transition to more sustainable production methods is developed.
The transport system / solution is being designed in Delfzijl, The Netherlands, and will be built in collaboration with technology partners Royal Wagenborg, Royal Niestern Sander and Petrogas Gas Systems. The logistics and transport services will be executed and managed by Wagenborg Offshore and will be available from 2022. This project has received financial support from the Dutch Ministry of Economic Affairs and Climate.