Copenhagen aims to be carbon-neutral by 2025
Copenhagen Malmo Port (CMP) will become a central party in storing and distributing the captured CO2 to ships that sail the CO2 to storage in old oilfields in the North Sea.
The project will be the first of its kind in Denmark and will contribute not only to the City of Copenhagen’s goal of becoming the first carbon-neutral capital in the world by 2025, but also to the national goal of reducing Denmark’s emissions of CO2 70% by the year 2030. Specifically, an annual reduction of 500,000t will correspond to approximately one percent of Denmark’s total emissions.
As one of the first and crucial steps in the project, ARC in collaboration with CMP has submitted an application to the climate action EU Innovation Fund to receive funding for both the establishment of the facility, which is scheduled for completion in 2025, and its operations. The amount of financial support being applied for is in the range of DKK 0.5-1 billion (€0.067-0.13 billion), which will finance up to 60% of the costs of the establishment of the facility and its operations for the first 10 years.
The fact that Amager Bakke and Provestenen (which is part of CMP’s commercial port) are located in close proximity to each other, contributes to the good preconditions for a partnership between ARC and CMP. Once the CO2 is captured, it will be transported via a short pipeline to special tanks at CMP’s nearby terminal on Provestenen. From here, the CO2 will be pumped aboard ships, which sail it further out to the North Sea, where it will be stored in drained and empty underground reservoirs.