The port of Rotterdam
North Sea Porthos carbon storage project hits FID
Netherlands’ first major storage project sees costs more than double after two-year delay
The Netherlands’ Porthos North Sea CO₂ storage project has reached FID and is set to move forward at a cost of €1.3b ($1.37b), more than double the original estimate of €500m, following a two-year delay because of a legal challenge. The project, which is a joint venture between Dutch gas company Energie Beheer Nederland, Dutch gas transmission system operator Gasunie and the Port of Rotterdam Authority, is expected to be operational in 2026. "CO₂ storage is crucial if we want to achieve the climate goals in the Netherlands,” said Hans Meeuwsen, director of Porthos. “This investment decision is an important starting point for future developments in CO₂ storage in the Netherlands." The project
Also in this section
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
