INEOS, Royal Wagenborg sign landmark CO2 carrier agreement to step up CCS game in the EU

Partners sign contract for new liquid CO2 carriers with focus on carbon capture and storage

Joint venture captures subsidy from EU Innovation Fund

Petrochemicals giant INEOS and Dutch shipping company Royal Wagenborg have signed a contract to build two new liquid CO2 carriers, in a move that will significantly boost the EU's carbon capture and storage (CCS) capabilities. The new vessels will be used to transport liquid CO2 from industrial emitters to storage sites under the North Sea as part of the Northern Lights CCS project, a joint venture between Equinor, Shell and TotalEnergies. The contract, which was signed at the COP27 climate conference in Egypt, is a major step forward for the CCS industry in Europe. It is also a significant investment in the development of new technologies that will help to reduce greenhouse gas emissions. The new vessels will be built by Royal Wagenborg's shipyard in the Netherlands. They will be equipped with the latest carbon capture technology, which will allow them to capture and transport CO2 from industrial emitters. The vessels will be delivered in 2025 and will be used to transport CO2 from industrial emitters in the Netherlands and Germany to storage sites under the North Sea. The Northern Lights CCS project is one of the most ambitious CCS projects in the world. It is expected to capture and store up to 10 million tonnes of CO2 per year, which is equivalent to the emissions of two million cars. The project is a major step forward in the fight against climate change. It will help to reduce greenhouse gas emissions and contribute to the EU's goal of becoming climate neutral by 2050. The new vessels will be a key part of the Northern Lights CCS project. They will help to transport CO2 from industrial emitters to storage sites under the North Sea, where it will be stored safely and permanently. The contract between INEOS and Royal Wagenborg is a major step forward for the CCS industry in Europe. It is also a significant investment in the development of new technologies that will help to reduce greenhouse gas emissions.