News | February 22, 2023

CapeOmega And Neptune Energy Announce NoordKaap, A Cross-Border CO2 Transport And Storage Proposal

CapeOmega and Neptune Energy today announced NoordKaap, a project concept for a cross-border CO2 storage solution for industrial emitters across Europe. NoordKaap would involve transporting CO2 via vessels suitable for directly injecting the CO2 at offshore locations and for terminal offloading. RWE has signed a Letter of Intent with CapeOmega and Neptune Energy in order to assess the possibility to ship green CO2 from their biomass Eemshaven facility for offshore storage in the Dutch North Sea.

NoordKaap will examine the potential for a network-based approach to Carbon Capture & Storage (CCS) via marine transport, and could make a crucial contribution to Dutch, Norwegian and European climate and energy goals. The overall objective of NoordKaap is to provide cost-effective, scalable infrastructure solutions to facilitate large-scale, flexible CO2 transport and storage from multiple industrial emitters clusters.

NoordKaap aims to offer CCS solutions to industrial clusters where ship transport is the primary or earliest available export option. The project will also examine opportunities for industrial clusters in Germany, Belgium, Scandinavia and northern France. It would provide access to CO2 subsurface storage sites offshore the Netherlands and Norway. NoordKaap is supported by partners Groningen Seaport, KNCC, Vopak and Return Carbon.

NoordKaap is planned to be operational in 2028 and has been submitted to the EU as a Project of Mutual Interest on the 6th PCI List1.

Evy Glørstad, CEO CapeOmega AS said: “NoordKaap comprises an integrated partnership of all stakeholders in the value chain, from emitters to storage facility owners, to ensure close coordination of these proposals as part of the development of a successful decarbonization strategy. CapeOmega aims to support the value chain with the infrastructure needed to safely and successfully transport and store CO2. NoordKaap would enable us to use our position and experience in pipeline, terminal, shipping and offshore licence ownership to support CCS and decarbonisation.”

Lex de Groot, Managing Director of Neptune Energy in the Netherlands, said: “CO2 storage is a crucial component for meeting the EU's climate goals and for a well-functioning CCS market. Both emitters and storage providers need to be able to transport CO2 safely, and we know access to pipelines will be limited for some, so we are focusing on both types of transport to offshore storage facilities: piping and shipping. CCS also supports Neptune’s strategy to store more carbon than is emitted from our operations and from the oil and gas products we sell by 2030.”

Roger Miesen, CEO RWE Generation, said: “RWE is keen to explore this opportunity together with CapeOmega and Neptune Energy. As RWE, we are currently assessing the possibility to ship and store green CO2 from our biomass Eemshaven plant to offshore storage in the Dutch North Sea, resulting in negative emissions. Our ambition is to make this happen in 2030. That is why the NoordKaap project is such an interesting opportunity for us.”

1 Projects of Common Interest (PCI) aim to link energy systems and bridge infrastructure gaps between EU countries. A Project of Mutual Interest (PMI) links energy systems between an EU country (or countries) and a third country. A successful award of PCI/PMI status gives access to accelerated permitting and funding under the Connecting Europe Facility.

About Neptune Energy
Neptune Energy is an independent global E&P company with operations across Europe, North Africa and Asia Pacific. The business had production of 130,000 net barrels of oil equivalent per day in 2021 and 2P reserves at 31st December 2021 of 604 million barrels of oil equivalent. Neptune aims to store more carbon than is emitted from its operations and the use of its sold products by 2030. The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.
Neptune Energy Netherlands is the largest offshore gas producer in the Dutch sector of the North Sea.

About CapeOmega
CapeOmega is the largest private gas infrastructure owner on the Norwegian Continental Shelf, with significant ownership in the pipeline networks and terminals that provide over a third of the natural gas to Europe and the UK, in addition to co-ownership of 10 newbuild LNG carriers operating globally. Recently awarded license interests Norway for the offshore CO2 storage license, Luna, CapeOmega is developing CCS projects leveraging our oil and gas expertise and infrastructure position to invest in terminal, transport, and storage facilities in Europe. The Company is backed by Partners Group’s Private Infrastructure business which has USD 21 billion in assets under management with over 130 investments in 18 countries globally.

Source: CapeOmega