Port of Antwerp: CO2 reduction project wins EU funding
The [email protected] consortium has secured funding from the EU for a project that aims to study and develop CO2 infrastructure in the Port of Antwerp.
In late 2019, the Port of Antwerp brought seven chemical and energy companies together to investigate the technical and economic feasibility of building CO2 infrastructure in the port.
The consortium consists of Air Liquide, BASF, Borealis, ExxonMobil, INEOS, Fluxys, the Port of Antwerp and Total.
As explained, the partners aim to keep CO2 out of the atmosphere and as such to make a significant contribution towards the climate objectives, thanks to applications for capturing and utilizing or storing CO2, all within a relatively short time span and at reasonable costs.
Specifically, two applications for EU funding have been approved. The Connecting Europe Facility (CEF) grant will enable partners to carry out studies for a liquid CO2 export terminal, a CO2 backbone within the Port of Antwerp, and a CO2 cross border pipeline to connect to the Netherlands.
The two subsidies amount to circa EUR 9 million ($10.6 million). With this financial support, [email protected] reaches a new milestone and can engage one step further.
The consortium intends to reduce CO2 emissions within the port potentially by half between now and 2030.
“The time is now to make the transition towards a carbon neutral economy. Europe leads the way on a global stage. With [email protected], the port of Antwerp has the key to realize an innovative cross-border CCUS-project, a first of a kind in its concept and scale,” Jacques Vandermeiren, CEO of the Port of Antwerp, commented.
“We are proud to receive the necessary financial support for the study phase, as this project will contribute to the Flemish, Belgian and European climate goals and to the increased EU 2030 targets for emission reduction to at least 55%.”