Porthos, the pioneering carbon capture and storage (CCS) venture in the Netherlands, has marked a significant milestone by approving the final investment decision to establish the country's inaugural large-scale carbon dioxide transport and storage infrastructure. The estimated project cost stands at $1.37 billion (EUR 1.3 billion), with construction scheduled to commence in Rotterdam by 2024. Porthos is a collaborative initiative between Energie Beheer Nederland (EBN), Nederlandse Gasunie NV, and the Port of Rotterdam Authority.

Key stakeholders, including Air Liquide, Air Products, ExxonMobil, and Shell, have expressed keen interest and committed to investing in their respective carbon capture facilities as part of the project. Porthos will be responsible for providing carbon transport and storage services, facilitating the transfer of captured carbon dioxide through Rotterdam's port to depleted gas fields located approximately 12.4 miles (20 kilometers) offshore in the North Sea. The CO2 will be permanently stored at depths ranging from 1.9 to 2.5 miles (3 to 4 kilometers) beneath the seabed.

The initiative aims to store approximately 2.5 million metric tons of carbon annually over a 15-year period, amounting to a total storage capacity of around 37 million metric tons. Porthos has strategically designed the onshore transport system to accommodate potential future carbon storage projects, laying the groundwork for sustainable climate-focused endeavors.

Recognized by the European Union as an essential contributor to climate targets, Porthos was designated a Project of Common Interest, securing a substantial subsidy of $107.8 million (EUR 102 million).

Hans Meeuwsen, Director of Porthos, emphasized the critical role of CO2 storage in the Netherlands' pursuit of its climate objectives, hailing the investment decision as a pivotal step towards fostering future advancements in CO2 storage within the region.

Porthos has forged partnerships with industry leaders, including TAQA Energy and a consortium of specialized contractors and suppliers, such as Denys N.V., Allseas, LMR Drilling GmbH, Mannesmann Grossrohr GmbH, Corinth Pipeworks, Equans, Ensco Offshore, Van der Ven, and Bonatti, underscoring its commitment to operational excellence and sustainable energy practices.

The project encountered legal challenges in the past, with environmental advocacy organization Mobilisation for the Environment contesting Porthos' use of the construction exemption. However, following a positive ruling by the Netherlands' Council of State in August, affirming the ecological assessment of the Porthos project, the initiative is set to move forward with its vision of facilitating transformative and sustainable climate action.