Port of Rotterdam CO₂ Transport Hub and Offshore Storage (Porthos) project is on schedule to store an annual amount of 2.5 million tons of CO2 from the industry in empty gas fields beneath the North Sea as of 2024.
The project is a joint venture between the Port of Rotterdam Authority, Gasunie and EBN.
By the end of last year, four companies registered for a total of €2 billion from the sustainable energy transition scheme (SDE) for the next 15 years.
It is expected that the subsidy will be granted to the four companies Air Liquide, Air Products, ExxonMobil and Shell shortly. According to expectations, the permit procedures will be completed later this year.
In 2021, the Porthos project organization will be working on the technical preparations of laying pipes on land and on the sea bed, building the compressor station and adjusting the platform at sea. The final investment decision for Porthos, the project for CO2 capture and storage in Rotterdam, has been planned for 2022.