The transition to an energy mix of zeros emissions of carbon dioxide (C02) also examines the development of technologies for the capture, reuse and storage of C02 (Carbon Capture Utilization & Storage – CCUS).
Technologies available today have the ability to capture carbon dioxide that would otherwise be released into the atmosphere, with the potential for permanent geological storage.
CO2 storage
The interest of domestic industry, and also of polluting units from neighboring countries (mainly cement plants and refineries) is constantly increasing in CO2 storage, because in the coming years the costs for polluters will be unbearable in the context of the increasingly strict policy of the European Union for the decarbonisation of the European economy.
Ten MOUs with industrial pollutants
Already 10 non-binding agreements (MoUs) have been signed between Greek and foreign industries (mainly from Italy, Croatia, Bulgaria) and Energean, which develops the first carbon dioxide (CO2) storage in the country, by converting the exhausted oil reservoirs of Prinos into geological storages. Interest in CCS technologies is mainly shown by heavy industry (cement industry, refineries, metallurgy, mineral industry, chemical industry and fertilizers) which emits significant amounts of carbon dioxide.
The Greek government is looking for alternative solutions in third countries, such as in Egypt for the prospect of exporting significant amounts of CO2.
Its interest is also proven by the fact that already last year three Greek companies secured financing from the Innovation Fund for projects that will involve more than 3.5 million tons per year, with the prospect of storage in Prinos or other available warehouses. These are IRIS by Motor Oil, IFESTOS by Titan and OLYMPUS by Herakles. In fact, HELLENiQ ENERGY presented a financial proposal for the commitment of one million tons per year. In other words, a total of 4.5 million tons per year will be able to be reserved.
However, the needs for capture and storage significantly exceed the available storage space of Prinos, although the news is optimistic. So far, the storage capacity of the CO2 storage project in Prinos has been confirmed at 1 million tons of CO2 per year, while there are indications that in full development it will be able to accommodate amounts of the order of 3 million tons of CO2 per year. a year
In fact, in a recent meeting of executives of Energean, its subsidiary “EnEarth” and the American Halliburton, they agreed to launch the necessary studies that will confirm the estimates.
More warehouses will be required
But even if they are confirmed again, there will be about 1.5 million tons a year “surplus”, just to serve Motor Oil, Titan, Heraklis and HELLENiQ ENERGY. Regarding the total emissions of the Greek industry, it is estimated that they reach approximately 33 million tons of C02 per year. So other geological storage projects will be required to satisfy domestic needs, even less if the industries of neighboring countries, which have already expressed interest, will also be served.
Studies have begun to find other areas capable of functioning as geological repositories, but there are still only indications of their suitability (e.g. in West Thessaloniki, Ptolemaida – Kozani, Vourino, Pentalofo -, Eptachori of Western Macedonia, Volos and Klepa Nafpaktia) and it will take years until the investigations are completed.
Thus, the Greek government is looking for alternative solutions in third countries, such as in Egypt for the prospect of exporting significant amounts of CO2. As the Deputy Minister of Environment and Energy Ms. Alexandra Sdoukou showed at the beginning of June, speaking at the East-Mediterranean Gas Forum, Greece and Egypt are in the preliminary stage of negotiations for cooperation in CCS due to the fact that Egypt has the geological formations that is could host such infrastructures.
The Prinos project
The project “Prinos CO2 Storage” was included in the 6th list of Projects of Common Interest (PCI). Its budget is more than 1.5 billion euros, of which about 1 billion euros concern the Energean projects and the rest the DESFA department for the construction of the network for the collection of pollutants from cement factories and refineries, the liquefaction of them and their transport by ships. , initially in Prinos.
The next goal will be to finish within the year the mandatory market trial for the warehouse so that in 2025 mandatory contracts are signed with the industries and the final investment decisions are made. In particular, Energean, through its subsidiary EnEarth, is interested in developing similar storage projects in Egypt and eventually Croatia.
On the part of the State, the institutional framework for the storage of carbon dioxide is being processed, which is also a milestone in the National Recovery and Resilience Plan, which according to what the Minister of Environment and Energy, Mr. Thodoros Skylakakis, recently mentioned. from the floor of Parliament will be published in the coming period.
Source: OT.gr