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Yesterday, Denmark, Belgium, the Netherlands and Sweden signed agreement with Norway, setting up a framework for transporting and…

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Embassy of the Netherlands in NorwayTotal0Shares 0 0 0 0 0 0 0 Yesterday, Denmark, Belgium, the Netherlands and Sweden signed agreement with Norway, setting up a framework for transporting and storing carbon dioxide in the North Sea region. Denmark and Sweden also signed a bilateral agreement, further strengthening the commitment of Northern European countries to manage their CO2 emissions.With the agreements in place, investors and states are expected to increase funding for infrastructure that will transport CO2 from Europe’s large industrial centers to storage sites and lay the foundation for a CO2 market in the region.The agreement follows a number of other partnerships that are creating the outlines of the supply and demand sides of this market. In 2021, Norway and the Netherlands forged an agreement on energy collaboration in the North Sea region, encompassing carbon capture and storage initiatives. Following suit, Norway established similar agreements with Belgium in 2022 and Denmark in 2023, alongside a collaborative declaration with Sweden in 2022.Moreover, Denmark, Belgium, and the Netherlands signed agreements in 2022 and 2023 facilitating the cross-border transport and storage of captured carbon.Relevant: France Signs Carbon Storage Agreement With Denmark France and DenmarkThere have also been strides on the supply side, with CO2 storage capacity in the European region gradually coming online. In August 2023 Denmark announced it will be investing $3.9 billion in carbon capture and storage, Norway has been developing its offshore sites with the most recent licensing round coming last March and earlier this week the Porthos project in the Netherlands made its first drilling under the seawall.Relevant: Clean Air Task Force Paper Explores Carbon Contracts For Difference In The EU Policy Landscape 0 0 0 belgiumcarbon storagecarbon transportdenmarknorwaySwedenLeave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment *Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ View Comments (0)Subscribe to Our Weekly Newsletter Get the Latest News About the Carbon Industry Subscribe By checking this box, you confirm that you have read and are agreeing to our terms of use regarding the storage of the data submitted through this form. Search Recent Posts IETA Issues New Guidelines For Corporates On Carbon Credits April 17, 2024 Five Northern European Countries Sign CO2 Transport And Storage Agreements April 17, 2024 Hemp Carbon Standard Welcomes Hempalta As Major New Investor April 16, 2024 Opinion: Biochar – The Circular System At The Heart Of The Carbon Negative Revolution April 16, 2024 New Report From IEA And GenZero Examines The Roles Of Carbon Credits, Public And Private Funding For Reaching Net Zero April 16, 2024Social Links LinkedIn Twitter Facebook Related Posts Read More CaptureCompaniesExterra, Énergir Join Forces To Advance Carbon Sequestration In Quebec Exterra Carbon Solutions, a startup specializing in sustainable carbon storage technology, has announced its first strategic collaboration with…April 16, 2024 Read More CaptureGlencore Embroiled In Legal Battle With Farmers Over CCS Project In Australia Australian farmers have initiated legal proceedings against mining major Glencore (LON: GLEN) over its carbon capture and storage…April 16, 2024 Read More CaptureHydrogenPress ReleaseIDTechEx Asks If Greener CO2-derived Chemicals Can Accelerate CCUS Uptake The chemical sector alone is responsible for 2% of global anthropogenic CO2 emissions, and the industry depends heavily on finite…April 16, 2024 Read More CaptureFirst Drilling Under Seawall Marks Start Of Porthos Project The start of the Porthos project in the Netherlands was officially marked on Saturday, April 13th, with the…April 15, 2024 Carbon Herald About usContact UsMedia Kit Published by Net Zero Communications Ltd – Company No. 13165965 Total0Share 0 0 0