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EMISSIONS: EC Approves €150mn Greek Aid For Carbon Storage Facility

EMISSIONS
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The EC has approved a €150mn Greek State aid measure to support a carbon storage facility in Prinos by 2030, including a large-scale pipeline for transporting up to 1 mn/t of CO2e annually from industrial sources to the offshore storage site, it said today.

  • The second phase will expand capacity to 2.5 mn/t of CO2e per year.
  • The aid will be provided as a direct grant in three instalments until 2026, with the facility expected to begin its ramp-up phase in 2027 and become fully operational by 2030.
  • EnEarth Ltd, a Greek subsidiary of Energean plc, will be the beneficiary, focusing on resources in the Mediterranean and North Sea.

 

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The EC has approved a €150mn Greek State aid measure to support a carbon storage facility in Prinos by 2030, including a large-scale pipeline for transporting up to 1 mn/t of CO2e annually from industrial sources to the offshore storage site, it said today.

  • The second phase will expand capacity to 2.5 mn/t of CO2e per year.
  • The aid will be provided as a direct grant in three instalments until 2026, with the facility expected to begin its ramp-up phase in 2027 and become fully operational by 2030.
  • EnEarth Ltd, a Greek subsidiary of Energean plc, will be the beneficiary, focusing on resources in the Mediterranean and North Sea.