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Helleniq Energy and Motor Oil
Carbon capture and storage technology is promoted as an innovation for the energy transition of the country's industry, mainly for cement plants, fertilizer and refining companies. Domestic energy groups such as Mytilineos, Helleniq Energy (ELPE) and Motor Oil are already seeking cooperation for the development of CCS technologies. Corinth Pipeworks is also expanding into coal storage projects and has significant experience in CO2 transport pipelines in the USA.
CCS technology is steadily gaining ground with many projects under development worldwide expected to reduce carbon dioxide emissions by 300 million metric tons per year by 2035, although the target set by the International Energy Agency _ in order to contain the increase in global temperature to 1.5 degrees Celsius, according to the Paris Agreement _ is 4 billion tons. In any case, new research from the Boston Consulting Group (BCG) demonstrates that deployment of engagement technology is no longer only technically feasible but also economically viable.
The areas
In Greece, according to a 2020 survey by ΗΕRΕΜΑ (Hellenic Energy Resources Management), in addition to the Prinos Basin, suitable formations for CO2 and natural gas storage (UGS) are located in the Middle Hellenic Trench, the Florina Basin, Western Thessaloniki and the Volos Basalts. Also, from the research work of the European program "Strategy CCUS" regarding the capture, storage and utilization of CO2, the areas of Pentalofos, Eptachori and Tsotili of Western Macedonia emerged as promising as they have large geological formations, with suitable carbon adsorption.
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