Normod Launches €250M Project to Reduce CO2 Transport Costs, Develops Region's Largest CO2 Hub Network
Normod Carbon has initiated a significant project to reduce carbon dioxide transport costs and develop the region's largest carbon dioxide hub network. The company has signed letters of intent with four industrial operators for the first phase of the project, valued at around €250 million. The project, based at the Port of Grenaa in Denmark, aims to handle up to 10 million tonnes of carbon dioxide a year from 2029.
The Grenaa hub, part of Normod's ambition to bring together over 20 million tonnes per year for storage or use, is expected to reduce carbon dioxide transport costs by over 25% through the use of intermediate storage hubs. This project is not only a step towards Normod's goal of creating the region's largest network of carbon dioxide hubs but also a significant contribution to the wider efforts across Northern Europe to create a connected carbon dioxide transport and storage network.
More than 80% of Normod's carbon dioxide portfolio is biogenic in origin, supported by permanent carbon dioxide removal certificates. This ensures that the project aligns with sustainable and environmentally friendly practices. By establishing this carbon dioxide hub at the Port of Grenaa, Denmark could become a complementary node in this emerging carbon dioxide 'superhighway', supporting the scale-up of CCS (Carbon Capture and Storage) and carbon removal projects across Northern Europe.
The Grenaa carbon dioxide hub, with its capacity to handle 10 million tonnes of carbon dioxide a year, is set to play a pivotal role in Normod's vision of developing the region's largest carbon dioxide hub network. This project, along with the company's other initiatives, is a significant step towards reducing carbon dioxide transport costs and accelerating carbon capture projects across Northern Europe.
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