Neptune Energy, ExxonMobil subsidiary XTO Netherlands, Rosewood Exploration, and EBN Capital announced the signing of a cooperation agreement to progress the L10 large-scale offshore carbon capture and storage (CCS) project in the Dutch North Sea.
The agreement brings together the technical and commercial capabilities necessary for a carbon storage opportunity for industrial customers in the Dutch sector. The companies plan to take the L10 carbon capture and storage development to the concept select stage in 2022 and have the project FEED-ready by the end of the year, followed by the submission of a storage license application.
Exploratory discussions with industrial emitters from various sectors are continuing, ahead of an upcoming round for applications for funding from Dutch authorities.
“CCS is crucial for achieving the Dutch climate goals for 2030,” said Lex de Groot, Neptune Energy’s managing director in the Netherlands.
“After the successful feasibility study, we can now combine our knowledge in the field of CCS with these parties,” he said. “This next important step will enable us to jointly develop one of the largest CCS facilities in the North Sea. The reuse of our existing infrastructure means that, together, we can help achieve the climate goals, but also ensure this part of the energy transition becomes cleaner, cheaper, and faster.”
This stage of the L10 carbon capture and storage project has the potential to store 4 million–5 million tonnes of CO2 annually for industrial customers within depleted gas fields around the Neptune-operated L10-A, B, and E areas. It represents the first stage in the potential development of the greater L10 area as a large-volume CO2 storage reservoir.
“We’re pleased to co-operate with our joint venture partners in this carbon capture and storage project where we can re-use existing infrastructure,” said Berte Simons , EBN’s program manager for carbon capture, use, and storage. “With our subsurface knowledge and experience on storage, we’ll be able to contribute extensively to the development of this project. The offshore storage of CO2 is pivotal in meeting climate goals, and EBN is determined to contribute to a carbon-neutral energy system.”
