On the recommendation of the Danish Energy Agency, the Danish Ministry of Climate, Energy and Utilities has granted the first CO2 storage licence in the Danish North Sea to Wintershall Dea and INEOS for Project Greensand, each of which will have a 40 per cent share. The remaining 20 per cent will be held by the state-owned company Nordsøfonden, which represents the interests of the Danish state. This permit will make it possible to eventually store CO2 under the seabed on a large scale in Denmark.

Alongside INEOS, Wintershall Dea is the leading member of the Project Greensand consortium. By the end of 2025, up to 1.5 million tonnes of CO2 per year could be stored each year as part of Project Greensand. By the end of 2030, this figure is projected to climb to up to 8 million tonnes of CO2 per year – or more than 13 per cent of Denmark’s total annual emissions.

“We are pleased with the trust that the Danish Energy Agency has placed in us and are glad that our project concept has convinced the authorities in Copenhagen,” says Hugo Dijkgraaf, Member of the Board and Chief Technology Officer at Wintershall Dea. “This licence enables us to launch the pilot injection phase of Project Greensand at the beginning of March and then to rapidly enter into commercial operation. With its CO2 storage potential, Greensand will also become relevant to German emitters.”

Going forward, unavoidable emissions from industry and agriculture will be stored in the Nini West field, a depleted oil reservoir in the Danish North Sea. In this way, Project Greensand is expected to make an important contribution to the decarbonisation of industry and the mitigation of climate change. The Danish government is supporting the project with the equivalent of EUR26 million in public funding. Issuing licences for CO2 storage is an important step to implement the national CCS strategy, which aims to make Denmark carbon-neutral by 2050.

For Wintershall Dea, Greensand is a pioneering CCS project that will encompass the entire value chain. The gas and oil company has the geological, petroleum and engineering knowledge needed to implement corresponding projects and plans to annually avoid between 20 and 30 million tonnes of CO2 by 2040. That is roughly half of the residual emissions expected in Germany at that time.

About Wintershall Dea

Wintershall Dea is Europe’s leading independent natural gas and oil company with more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 12 countries worldwide in an efficient and responsible manner. With activities in Europe, Latin America, the MENA region (Middle East & North Africa) and Russia, Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business. The company intends to fully exit Russia.

As a European gas and oil company, we support the EU's 2050 carbon neutrality target. As our contribution we have set ourselves ambitious targets: We want to be net zero across our entire upstream operations – both operated and non-operated – by 2030. This includes Scope 1 (direct) and Scope 2 (indirect) greenhouse gas emissions on an equity share basis. Wintershall Dea will also bring its methane emissions intensity below 0.1 per cent by 2025 and maintain zero routine flaring of associated gas in its operations. In addition, we plan to reduce emissions resulting from the use of hydrocarbons by applying CCS and low-carbon hydrogen technologies, potentially building up a business abating 20-30 million tonnes of CO2 per annum by 2040. You can find more about this in our Sustainability Report.

Wintershall Dea was formed from the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, in 2019. Today, the company employs around 2,500 people worldwide from almost 60 nations.

About INEOS

INEOS is a global manufacturing company making the raw materials and energy used for everyday life. Its products make an indispensable contribution to society by providing the most sustainable options for a wide range of societal needs. For example, preservation of food and clean water; construction of wind turbines, solar panels and other renewable technologies; for construction of lighter and more fuel-efficient vehicles and aircraft; for medical devices and applications; for clothing and apparel; and for insulation and other industrial and home applications.

INEOS businesses have put in place the plans and actions needed to ensure that they lead the transition to a net zero economy by no later than 2050, whilst remaining profitable, and staying ahead of evolving regulations and legislation. As part of its greenhouse gas emission reduction strategy, there is a widespread goal to move to a more circular economy, in which materials are re-used to their maximum extent.