Germany’s Wintershall Dea and British firm Ineos have secured a CO₂ storage licence for Project Greensand in the Danish North Sea.

The licence has been awarded by the Danish Ministry of Climate, Energy and Utilities on the recommendation of the Danish Energy Agency (DEA).

The two firms will each own 40% stakes in project while the remaining 20% stake will be held by the state-owned company Nordsøfonden.

Backed by €26m in public funding from the Danish government, Project Greensand will involve the storage of CO₂ in the Nini West field, a depleted oil reservoir, in the Danish North Sea.

Wintershall Dea chief technology officer and board member Hugo Dijkgraaf said: “We are pleased with the trust that the Danish Energy Agency has placed in us and are glad that our project concept has convinced the authorities in Copenhagen.

“This licence enables us to launch the pilot injection phase of Project Greensand at the beginning of March and then to rapidly enter into commercial operation. With its CO₂ storage potential, Greensand will also become relevant to German emitters.”

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Project Greensand aims to store up to 1.5 million tonnes of CO₂ per year by the end of 2025 and increase the figure to up to eight million tonnes annually by the end of 2030.

In a press statement, Wintershall said: “Issuing licences for CO₂ storage is an important step to implement the national CCS strategy, which aims to make Denmark carbon-neutral by 2050.”