The Netherlands to develop Europe's largest CO2 capture and storage project

The Porthos project, estimated to cost €1.3 billion, is the largest CO2 capture and storage project in Europe to date. Once completed, the project will recover CO2 emissions from industrial facilities, including refineries and hydrogen production facilities, in the Rotterdam harbour basin and bury them in a depleted gas field in the North Sea. The Dutch government has undertaken to subsidise the project if the price of CO2 falls below a certain threshold, considered to be the break-even point for the project. The project, which is expected to store 38 million tonnes of CO2, is being developed jointly by the Port of Rotterdam, Gasunie and the Dutch government. If the project works as planned, a second project will be launched, capable of storing ten times as much CO2 as the Porthos project.