EnEarth, a subsidiary of the Energean group, filed an application for a license to store carbon dioxide (CO2) in Prinos of Kavala .
According to the application submitted for approval to the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA), the storage capacity of the first phase of the project in Kavala will be up to 1 million tons of carbon dioxide per year, while at full development, the storage capacity may reach 3 million tons per year.
EnEarth, requests:
establishing the suitability as a CO2 storage site of the area as it has been demarcated and specified in the exploration permit and
the activation of the CO2 storage right.
On the occasion of submitting of the application for the storage permit, Dr. Katerina Sardis, Managing Director and Country Manager of Energean in Greece stated the following:
"The submission of the application is a decisive step for the implementation of the project and proves the commitment of EnEarth and the Energean group for an investment, which it will reach the ammount of 500 million euros, during the first phase. The granting of the storage license will be a milestone as it guarantees the implementation of the Prinos storage project on time and on a realistic basis.
The importance of the project is huge for the industry of our country, the wider region, the job creation (in the sector), for the environment, the Greek economy and the local communities. The unfortunate development of the natural gas storage project in southern Kavala should be a guide, so that the failures of the past can be avoided and this new project can proceed safely and in the shortest possible time."
It is noted that the application is accompanied by a series of studies and technical reports on the adequacy of the group and the suitability of the underground warehouse.
The next steps for the implementation of the project include the following:
After the recent completion of the pre-notification process, which began in June 2023, the official notification by the Greek government is expected, about the request for approval of the state aid. The aid is based on the Climate, Energy & Environmental Aid Guidelines - CEEAG, and the project is approved under the Recovery & Resilience Facility (RRF).
EnEarth will complete and submit the Environmental and Social Impact Study within the summer.
During the summer, the process of the non-binding market test will begin, with the aim of the binding market test being completed within the year, so that by 2025 binding contracts will have been signed with the industrial companies (emitters). So far, 10 non-binding Memoranda of Understanding (MoUs) have been signed with interested companies (polluters) from Greece and neighboring countries.
source: newsit.gr