Porthos is preparing a project in which CO2 is transported and stored in gas fields under the North Sea. The project aims to construct a pipeline in the Rotterdam port area, to which multiple companies can connect. The infrastructure is set up as an open access and non-discriminatory system.
Porthos is developing agreements with companies that are interested in supplying CO2: from Expressions of Interest (EoI) via Joint Development Agreements (JDA) to transport and storage contracts.
Expression of Interest
In the Spring of 2019, Porthos investigated the industrial interest in the project. The EoI showed that there is more than sufficient interest in the first phase of the project. Porthos now focuses on concluding JDAs with companies.
Joint Development Agreement
With the JDAs, Porthos and the companies agree to jointly work towards the conclusion of transport and storage contracts.
The companies commit to start with the permit procedures and prepare the design of their capture installation. Porthos commits to continue with the permit procedures and the technical preparation of the project.
Companies that sign a JDA before October 1st 2019 will be given a priority position if it appears that the demand for the transport and storage system exceeds the available capacity.
Transport and storage contract
Porthos intends to conclude transport and storage contracts with companies by mid-2020. On the base of these contracts, the companies can apply for government SDE++ subsidies. If such subsidies are not timely awarded, the contract can be terminated.
As soon as the subsidies are awarded, or if companies do not need subsidies, and all other conditions have been complied with, a final decision will be made as to whether the CO2 capture, transport and storage system will be constructed.