Denmark is open for business. In itself, that statement is nothing new – but what follows is nothing short of historic.
Three licenses for large-scale carbon capture and storage in the Danish part of the North Sea have been given to INEOS and Wintershall DEA as well as TotalEnergies.
The licenses are the first of their kind in Denmark and will help develop a new green industry in the North Sea. In addition, the storage of carbon will help us reach our climate goals.
“This is not just a step towards a new green industry in our North Sea – it’s a milestone for our green transition. Establishing carbon capture and storage as an industry means we can do it bigger and better – and move faster towards our climate goals in the process. I’m glad to see the continued interest in the Danish underground,” says the Minister for Climate, Energy and Utilities Lars Aagaard.
The licenses project a storage of upwards of 13 million tons of carbon yearly in the Danish underground from 2030.
However, it is estimated that the storage potential of the Danish underground is up to 22 billion tons – which corresponds to somewhere between 500 and 1000 years of Danish emissions if we were to fill it up ourselves.
“That means we’re open for business in more ways than one. In September, we signed an agreement with Flanders and Belgium for international carbon-transport which means they’ll be able to store their carbon-emissions in our underground – and we’re working towards securing more so we can utilize the full potential of our underground,” says the Minister for Climate, Energy and Utilities Lars Aagaard.
- INEOS and Wintershall DEA estimate they will able to store 1.5 tons of carbon yearly before the end of 2025 – and upwards of 8 million tons yearly in 2030.
- TotalEnergies estimate that they will be able to store more than 5 million tons of carbon yearly from 2030.
The Ministry of Climate, Energy and Utilities’ press office: + 45 41 72 38 05