Wintershall Dea joins UK’s Poseidon CCS project

European oil and gas company Wintershall Dea (Wintershall) has joined the UK’s Poseidon carbon capture and storage (CCS) project after acquiring a ten percent stake in the licence from Carbon Catalyst, which won the license along with project operator Perenco as part of the UK’s first carbon dioxide (CO2) storage licensing round.

As one of the UK’s largest CO2 transportation and storage projects, Poseidon boasts a future total annual storage capacity of up to 40m tonnes and is scheduled to begin operations by 2029.

The project is expected to connect a range of CO2 emitters across the East and Southeast of England, resulting in the permanent geological storage of approximately one billion tonnes of CO2.

The captured CO2 will be taken from the Perenco-operated Bacton Gas Terminal to the offshore Poseidon storage site, about 65km off the coast from Bacton in the UK Southern North Sea.

Commenting on the announcement, Hugo Dijkgraaf, CTO and Executive Board Member at Wintershall, said, “We are proud to expand our presence in the country and contribute to the UK’s efforts in achieving a Net Zero future.”

“Through our involvement in this project, we are further growing our expertise in the CCS field and reconfirming our efforts to decarbonise European industries.”

Holding stakes in five offshore CCS licences in three North Sea countries, Wintershall contributes to the Wilhelmshaven energy hub on the German North Sea coast through the BlueHyNow and CO2nnectNow projects.

“As an expert E&P company with over 60 years of experience in the North Sea and our growing CCS expertise from projects in Norway and Denmark, Wintershall Dea can contribute valuable subsurface and technical knowledge to this outstanding project,” enthused Matthias Pfeiffer, Country Lead UK for Carbon Management & Hydrogen at Wintershall.

Alongside Equinor, Wintershall aims to develop the NOR-GE pipeline to connect continental European industry clusters and suitable CO2 storage sites in the North Sea.

Earlier this year, the company joined forces with INEOS to inject the first quantities of CO2 from a Belgian emitter in the depleted Nini West oil field in the Danish North Sea.

European CO2 Summit 2024 

An adage that captures the great CO2 paradox in one succinct sentence. Yet this paradox in carbon dioxide availability and sourcing is being challenged. How we see CO2 is changing.   

CO2 is shifting from by-product and waste disposal to an integral circular value chain in its own right, but is it moving quick enough?  

We know that sourcing has to change. We know the CO2 supply chain in Europe is fraught with instability and vulnerability; at the same time, demand continues to grow. We know that decarbonisation brings opportunities, but it could also present threats if invaluable CO2 is taken off the table and lost.  

The clock is ticking, which begs the question, if CO2 is there to be captured and the proven technology exists to do that, what needs to happen next? 

Join gasworld in Austria in February as we turn the attention to what comes next and an action plan for the CO2 business of tomorrow, at the Europe CO2 Summit 2024.  

To attend, sponsor and for more information, visit https://bit.ly/GWCO2EU-S24


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