Neptune Energy, ExxonMobil subsidiary XTO Netherlands, Rosewood Exploration, and EBN Capital will work together to progress the L10 large-scale offshore carbon capture and storage (CCS) project in the Dutch North Sea. Aim is to take the CCS development to the concept select stage in 2022.
The agreement brings together the technical and commercial capabilities necessary to create a robust carbon storage offering for industrial customers in the Dutch sector. After the concept select stage has been reached, the goal is to have the project front-end engineering design (FEED) ready by the end of the year, followed by the submission of a storage licence application.
Exploratory discussions with industrial emitters from various sectors are continuing, ahead of the upcoming round for applications for SDE++ funding from Dutch authorities.
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One of the largest CCS facilities in the North Sea
‘CCS is crucial for achieving the Dutch climate goals for 2030,’ says Neptune Energy’s managing director in the Netherlands, Lex de Groot. ‘This cooperation agreement is a significant step in the development of the Neptune-operated L10 project, which supports our strategy to go beyond net zero and store more carbon than is emitted from our operations, scope 1, and sold products, scope 3, by 2030.’
He adds: ‘After the successful feasibility study, we can now combine our knowledge in the field of CCS with these parties. This next important step will enable us to jointly develop one of the largest CCS facilities in the North Sea. The reuse of our existing infrastructure means that, together, we can help achieve the climate goals, but also ensure this part of the energy transition becomes cleaner, cheaper and faster.’
This stage of the L10 carbon capture and storage project has the potential to store 4 to 5 million tonnes of CO2 annually for industrial customers within depleted gas fields around the Neptune-operated L10-A, B and E areas. It represents the first stage in the potential development of the greater L10 area as a large-volume CO2 storage reservoir.
Picture: The Neptune operated L10-A platform (by Neptune Energy).
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