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.
