CO2 storage project advances

INEOS, together with its Project Greensand partners Harbour Energy and Nordsøfonden, is developing one of Europe’s most advanced CO₂ storage sites. Greensand aims to receive CO₂ from several European countries for safe, permanent injection into offshore geological formations. (Image: Greensand)

Öresundskraft Kraft & Värme AB and INEOS, on behalf of Project Greensand, have signed an agreement to explore the storage of up to 210,000 tonnes of carbon dioxide (CO₂) annually from Sweden in Denmark, the companies announced. The captured CO₂ would be permanently stored at the Greensand storage facility in the Danish sector of the North Sea, with the first volumes expected to be stored starting in 2028.

The partnership represents a major step forward for carbon capture and storage (CCS) efforts in the Greater Copenhagen area and highlights the growing importance of international cooperation in tackling climate change.

“This agreement with INEOS marks an important milestone for us,” said Stefan Håkansson, CEO of Öresundskraft. “We are at the forefront among our European peers in developing a sustainable, fully integrated CCS solution for energy recovery from waste. Our project, one of Sweden’s first CCS initiatives, has been awarded €54 million from the EU Innovation Fund. Connecting Swedish carbon capture with Danish storage infrastructure underscores how international collaboration is key to reaching climate targets.”

INEOS, together with its Project Greensand partners Harbour Energy and Nordsøfonden, is developing one of Europe’s most advanced CO₂ storage sites. Greensand aims to receive CO₂ from several European countries for safe, permanent injection into offshore geological formations.

“Storing CO₂ is essential if Europe is to meet its climate goals,” said Mads Weng Gade, CEO of INEOS Energy Europe. “This agreement with Öresundskraft shows how industry players across countries can work together to build scalable, cross-border CCS value chains.”

The announcement follows INEOS and its partners’ Final Investment Decision (FID) in December 2024 to proceed with full-scale CO₂ storage operations in Denmark’s Nini Field, part of the Greensand project. Full operations are slated to begin by late 2025 or early 2026, positioning Greensand as the European Union’s first operational offshore CO₂ storage facility. The project is expected to drive more than 1 billion Danish kroner in investments to expand storage capacity.

“The agreement with Öresundskraft marks the beginning of Greensand’s next phase—expanding capacity to store CO₂ from other EU countries,” Gade added. “It’s a significant move toward building a truly European CCS infrastructure that enables emissions reductions across borders.”

The Greater Copenhagen region is considered especially promising for CCS projects due to its industrial base, infrastructure, and proximity between Sweden and Denmark. The new agreement is another example of regional stakeholders coming together to advance climate solutions on an international scale.