Energy Transition

Wintershall Dea takes stake in North Sea Poseidon carbon capture license

Nov. 14, 2023

Wintershall Dea has joined the Poseidon CCS project offshore/onshore eastern England through acquiring a 10% stake from Carbon Catalyst.

Perenco UK (PUK) and partner Carbon Catalyst were awarded a license to progress the Poseidon project, a carbon storage project in the Leman gas field, in the NSTA’s first competitive CCS licence round. The field is connected to the PUK Bacton Terminal, which will receive and process CO2 offshore.

Offshore staff

KASSEL, Germany — Wintershall Dea has joined the Poseidon CCS project offshore/onshore eastern England through acquiring a 10% stake from Carbon Catalyst.

Operator Perenco and Carbon Catalyst secured the associated area under the UK’s first CO₂ storage licensing round.

Poseidon, which could be operational by 2029, will offer annual storage capacity of up to 40 MM metric tons once fully developed, with the partners targeting permanent subsurface offshore of about 1 billion metric tons of CO₂.

The development will connect CO₂ emitters across eastern and southeast England. CO₂ will be transported via the Perenco-operated Bacton gas terminal on the Norfolk coast to the offshore Poseidon storage site.

The carbon storage license area is 65 km from Bacton in the southern UK North Sea and covers the Leman gas field, offering a combination of depleted gas reservoirs and saline aquifers thought to be suitable for safe and permanent carbon storage.

Wintershall Dea now has positions in five offshore CCS licenses in three North Sea countries.

Via the BlueHyNow and CO₂nnectNow projects, the company is a participant in the Energy Hub Wilhelmshaven development on the German North Sea coast.

In collaboration with Equinor, it plans to develop the NOR-GE pipeline to connect continental European industry clusters with CO₂ storage sites in the North Sea.

And as a member of the Ineos-led Greensand consortium, the company participated in the pilot injection this March of the first volumes of CO₂ delivered from a Belgian emitter for storage in the depleted Nini West oil field in the Danish North Sea.

11.14.2023