HELD UNDER THE PATRONAGE OF HIS EXCELLENCY ABDEL FATTAH EL SISI, PRESIDENT OF THE ARAB REPUBLIC OF EGYPT

17 - 19 FEBRUARY 2025

EGYPT INTERNATIONAL EXHIBITION CENTER

17 - 19 FEBRUARY 2025

EGYPT INTERNATIONAL EXHIBITION CENTER

DRIVING ENERGY TRANSITION, SECURITY AND DECARBONISATION

Energean Applies for Carbon Storage Project Offshore Greece

EnEarth, part of Energean Group, applies for a CO2 Storage License in Prinos, Kavala, NE Greece, targeting initial capacity of 1 million tons annually, expandable to 3 million tons, with regulatory updates aligned to EU guidelines

Wednesday, 03 July 2024

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EnEarth, a subsidiary of Energean Group, has submitted an application for a CO2 Storage License at Prinos, Kavala, NE Greece, to EDEYEP, Hellenic Hydrocarbons and Energy Resources Management Company.

The project’s initial phase targets a storage capacity of 1 million tons of CO2 per year, with potential expansion to 3 million tons annually.

The application includes technical reports validating the site’s suitability and safety, detailed project descriptions, and a proposal to revise the regulatory framework based on European Commission guidelines.

The project has completed the pre-notification process and awaits official notification from the Greek government for approval of State Aid under the Recovery & Resilience Facility, Energean said in a press release.

EnEarth plans to submit the Environmental and Social Impact Assessment by summer and begin market testing to secure industrial emitters for binding contracts. Ten non-binding MoUs have been signed with emitters from Greece and neighboring countries.

“The submission of the application is an important step for the implementation of the project and demonstrates the total commitment of EnEarth and the Energean Group for the EUR 500 million investment in the first phase. Acquiring the Storage License will guarantee the implementation of the Prinos storage project on time,” said Dr. Katerina Sardi, Managing Director and Country Manager of Energean in Greece.

 

Source - EGYPT OIL & GAS