Energy company Wintershall Dea has increased its involvement in carbon capture and storage (CCS) initiatives with its entry into the Poseidon CCS project, located in the Southern North Sea sector of the UK Continental Shelf. Carbon Catalyst, the original licensee, has completed the farmout of a 10% working interest to Wintershall Dea, marking the latter's second venture into a UK CCS project.

The Poseidon project, situated in the Leman gas fields, received approval from the North Sea Transition Authority (NSTA) in August. Carbon Catalyst, in collaboration with Perenco UK, secured the license for the CCS project, which is anticipated to play a pivotal role in decarbonizing the East and Southeast of England. The project is expected to commence operations by 2029, with initial CO2 injection rates reaching approximately 1.5 million tonnes per annum and scaling up to 40 Mtpa over a 40-year period.

Wintershall Dea's participation in Poseidon adds to its growing portfolio of CCS initiatives in the North Sea, including the Camelot license and the Greensands CCS project in the Danish North Sea. The company, in partnership with INEOS, achieved a significant milestone in March by demonstrating the first full cross-border CCS value chain in Europe. This involved the pilot injection of CO2 from a Belgian emitter, which was successfully stored in the depleted Nini West oil field.

Fergus Marcroft, Executive Director at Carbon Catalyst, expressed delight in welcoming Wintershall Dea to the Poseidon CCS project, emphasizing the company's valuable experience and contributions to the initiative. Wintershall Dea's involvement is expected to enhance the project's capabilities, building on its expertise gained from previous CCS endeavors.

This strategic move aligns with the broader industry's commitment to advancing sustainable practices and achieving significant reductions in carbon emissions.