The CCS IRIS project promoted by Motor Oil is able to provide advantages both to the group and to Greece, argued Giorgos Daskalakis, head of the technology department from the Power & Gas Forum podium.
As highlighted, the IRIS project, is the decarbonisation project of the refinery and in line with the group's objectives. It has already secured funding from the Innovation Fund.
As for the group itself, the project enhances resilience by reducing emissions. At the same time, Motor Oil will become an important producer of blue hydrogen, while enhancing the circularity of CO2 through the production of biomethanol. Another benefit is that it has synergies with other projects, such as Trieres Hydrogen.
As for the country as a whole, it helps to fulfill the goals set by ESEK, the transition of industry to greener sources, exports and energy security are ensured.
There are, however, challenges for this type of pan-European project, which have to do with regulatory issues, uncertainty about future CO2 prices and a lack of incentives.
IRIS is expected to be put into operation within the first half of 2028. In the first phase it will be necessary to initiate a regulatory framework on the part of the State, and also the transfer of the new regulatory texts of the EU. it must be done soon.
source: energypress.gr