European Commission Grants PCI Status To CO2 Value Chain Project

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  • The PCI designation highlights the project’s significance as a key cross-border infrastructure initiative that supports the EU’s energy policy and climate goals.
  • This recognition places the project among only 14 CO2 infrastructure projects awarded PCI or Project of Mutual Interest (PMI) status this year, the latter being for key projects between the EU and non-EU countries.
  • Projects with PCI and PMI status benefit from various advantages, including eligibility for financial support through the Connecting Europe Facility.

The CCS Baltic Consortium was established in 2022 to develop a carbon capture and storage (CCS) value chain in Lithuania and Latvia. This project involves capturing CO2 from the industrial sector and transporting it onshore and offshore to permanent storage sites. Significant progress has been made, including analysis, feasibility studies, and grant applications, with operations expected to begin in 2030. The PCI status will accelerate the project’s development.

Importance of CCS in the Region

Currently, Lithuania, Poland, and Latvia prohibit underground CO2 storage. Therefore, CCS is a crucial option for companies in these countries to achieve decarbonization goals. The consortium aims to create a widely adopted CCS value chain in the region, significantly contributing to climate change mitigation.

Comments from Consortium Leaders

Artūras Zaremba

Artūras Zaremba, CEO of Akmenės cementas, emphasized that CCS is particularly relevant in sectors where transitioning from fossil fuels to renewable energy is challenging, such as cement production. He noted that it is an advanced technological solution that can significantly decarbonize the industry.

Darius Šilenskis

Darius Šilenskis, CEO of KN Energies, stated that the CCS Baltic Consortium project is the first of its kind in the Baltic region. While the rest of Europe has advanced in exploring carbon capture, this project demonstrates their commitment to creating a sustainable CCS value chain that aligns with EU energy and climate goals.

Espen Tollevik

Espen Tollevik, Managing Director of Larvik Shipping, expressed pride in contributing to this Baltic CCS project, bringing over 35 years of experience in the safe and reliable transportation of liquified CO2 by ship.

Suryan Wirya-Simunovic

Suryan Wirya-Simunovic, Executive Officer of Mitsui O.S.K. Lines, expressed gratitude for receiving the PCI grant, which validates their efforts in the CCS sector. He emphasized that as a shipping company, they will provide flexible and sustainable solutions to support the decarbonization of the Baltic area and broader Europe.

Reinhold Schneider, CEO of SCHWENK Northern Europe, highlighted that carbon capture is essential for the sustainability and competitiveness of the industry. He stated that partnering with experienced industry players in the CCS Baltic Consortium will help establish the necessary infrastructure to process and store captured CO2, significantly reducing greenhouse gas emissions.

The PCI status granted to the CCS Baltic Consortium’s project underscores its potential impact on the EU’s decarbonization efforts. This initiative is set to advance carbon capture and storage technologies in the Baltic region, promoting broader adoption and significant climate benefits.

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Source: MOL