Swedish energy company Öresundskraft Kraft & Värme AB and INEOS, on behalf of the pioneering Project Greensand, have signed a landmark agreement to explore the storage of up to 210,000 tonnes of carbon dioxide (CO2) annually from Sweden in Denmark. The captured CO2 is slated for secure and permanent storage within the Greensand storage facility, situated in the Danish sector of the North Sea, with the first storage volumes anticipated by 2028.

Project Greensand, spearheaded by INEOS in partnership with Harbour Energy and Nordsøfonden, is at the forefront of developing one of Europe’s most advanced CO2 storage sites. This latest development signifies a crucial expansion of the project's scope, positioning it as a key recipient of CO2 from various European nations, including Sweden, for safe and permanent injection into offshore geological formations within the Nini Field.

Stefan Håkansson, CEO of Öresundskraft, hailed the agreement as a pivotal moment for the company. “This agreement with INEOS marks an important milestone for us. We are at the forefront among our European industry peers when developing a sustainable and fully integrated CCS solution for energy recovery from waste. Our project has been awarded €54 million from the EU Innovation Fund and is one of Sweden’s first CCS initiatives. Our goal is to offer climate-neutral district heating and achieve negative emissions. Connecting Swedish carbon capture with Danish storage infrastructure highlights the importance of international cooperation in reaching climate goals. We are proud to be working with INEOS on this.”

Mads Weng Gade, CEO of INEOS Energy Europe, emphasized the essential nature of CO2 storage in achieving Europe’s climate targets. “Storing CO2 is essential if Europe is to reach its climate targets. This agreement with Öresundskraft demonstrates how industrial players in different countries can work together to build scalable, international CCS value chains.”

This agreement builds upon significant progress already made by the Greensand project. In December 2024, INEOS and its partners made the Final Investment Decision (FID) to proceed with full-scale CO2 storage operations in the Nini Field. With the initiation of safe and permanent CO2 storage in the Nini Field targeted for late 2025 or early 2026, Greensand is on track to become the EU’s first operational CO2 storage facility dedicated to mitigating climate change. This investment decision has paved the way for expected investments exceeding 1 billion DKK across the entire Greensand CCS value chain to significantly scale up storage capacity.

Mads Gade further commented, “The agreement with Öresundskraft marks the beginning of the next phase of Greensand—expanding the capacity to store CO2 also from other EU member states. This is a significant step toward building a truly European CCS infrastructure that enables emissions reductions across borders.”