International energy consultancy Xodus Group has delivered a review into tariffs for the Porthos carbon capture, utilisation and storage (CCUS) project, located in the Netherlands.
In a review for the Dutch Ministry of Economic Affairs and Climate Policy, the consultancy analysed proposed fees for the transport and storage requirements of the project.
A joint venture between the Port of Rotterdam Authority, Gasuine and EBN, the Porthos project seeks to transport CO2 from industry in the Port of Rotterdam to empty gas fields beneath the North Sea.
The CO2 that will be transported and stored by Porthos, will be captured from a variety of companies such as Shell, Air Liquide, Air Products and ExxonMobil, all of which have already signed joint development agreement.
The company’s will supply their CO2 to a collective pipeline running through the Rotterdam port area before being pressurised in a compressor station.
Jonathan Fuller, Global Head of Advisory and energy Transition at Xodus Group, said, “The Porthos project has the potential to make a significant contribution to helping the Netherlands reach its carbon reduction targets.”
“CCUS is still relatively in its infancy, which creates uncertainty around cost models. We analysed other global project, both planned and in operation, taking into consideration peak CO2 rates, capital and operating expenditures and relevant country taxes.”
“The Porthos model, with multiple suppliers and a shared backbone is currently the most develop of its kind, so to ensure the review was robust, we modelled the design in our cost estimating software which yielded a very similar tariff result, giving the certainty need to move forward.”