“Prospects for the Implementation of CCUS Technologies in Greece and SE Europe”
National Hellenic Research Foundation
Tuesday, October 10, 2023, 10:00-16:00 (AthensTime)
Carbon Capture, Utilization and Storage (CCUS) refers to a suite of technologies that can play a diverse role in meeting the global energy and climate goals and can be applied communally to enhance energy transition. According to the International Energy Agency (IEA), currently there are around 35 commercial facilities worldwide deploying CCUS to industrial processes, fuel transformation and power generation. CCUS deployment has been behind expectations in the past but momentum has grown substantially in recent years, since approximately 300 projects have been implemented in various development stages across the CCUS value chain. Project developers have announced plans for over 200 new capture facilities to operate by 2030, capturing over 220 Mt CO2 per year.
To translate momentum into action, policy makers need to roll out additional policy support, while also ensuring that appropriate legal and regulatory frameworks are in place. Growing recognition of CCUS technologies’ role in meeting net zero goals is translating into increased policy support, coupled with funding and is expected to incentivize greater CCUS deployment.
In view of the growing interest for CO2 reuse and the pressing environmental problems, which Greece and the SE European region face, regarding the GHG emissions as well as the lack of well- coordinated studies and roadmaps, the Institute of Energy for SE Europe (IENE) has taken the initiative and carried out a comprehensive study on CCUS, which was funded by a group of major energy companies and completed in May 2023.
According to the findings of this study, the technology and know-how, that can enable the introduction of CCUS in Greece and SE Europe over the next few years, exists today in Europe and worldwide. Indicatively, there are several locations in Greece that could serve as potential CO2 storage sites, either via in-situ CO2 injection and storage (within deep saline aquifers, hydrocarbon reservoirs, and porous sandstone reservoir formations), or by the permanent CO2 sequestration via mineralization processes in specific rock types. In addition, the IENE study proposes that a cluster of CCUS hubs could be developed across the country, to be located next to industrial centers, for the capture and temporary storage of CO2, which can subsequently be transported via special vessels to permanent underground storage facilities in Greece or in the other parts of the Mediterranean.
For the effective application of CCUS in Greece and in the wider SE European region, it is important to examine and fully comprehend the CCUS value chain, and to plan a roadmap with the necessary steps/stages that will enable the implementation of relevant projects. Hence, it is of vital importance to map the existing opportunities for CO2 storage and utilization, as well as the required technology, infrastructure, knowledge and expertise gaps within.