In storing and distributing the captured CO2 to ships sailing the CO2 for storage in old oil fields in the North Sea, CMP will become the central party.

The project will be Denmark's first of its kind and will contribute not only to the urban objective of being carbon neutral, but also to the national objective of reducing Denmark's CO2 emissions by 70% by 2030. An annual reduction of 500,000 tonnes of CO2 will account for approximately one per cent of the total emissions of Denmark.

As one of the first and critical phases of the initiative, ARC, in partnership with the CMP, will submit at the end of October an application to the EU Innovation Fund for Climate Change to obtain funding for both the establishment of the facility, scheduled to be completed by 2025.

The amount of financial assistance required is in the range of DKK 0,5-1 billion, which will finance up to 60 per cent of the costs of setting up and running the facility for the first ten years.

In near proximity to each other are Amager Bakke and Prøvestenen.

Once the CO2 is captured, it will be transported to special tanks at CMP 's nearby terminal at Prøvestenen through a short pipeline. CO2 will be pumped from here aboard ships sailing farther out to the North Sea, where it will be deposited in drained and dry tanks of underground oil.

“For CMP, this is an excellent example of how the port can play an active role in the green transition and be part of new pioneering climate technology, which can hopefully serve as inspiration for similar projects with CO₂ capture not only in Denmark but also abroad,” Barbara Scheel Agersnap, CEO, Copenhagen Malmö Port, stated.

There are a variety of other system requirements, in addition to the need for financial support, that must be in place before the project can become a reality.

Maritime Business World