Open for business: Denmark and the Netherlands land new international arrangement for CO2-storage

Last year, Denmark, Belgium and Flanders made history by signing an arrangement that enabled the transport of captured CO₂ from one country to another with the purpose of geological storage. The Netherlands and Belgium signed a similar arrangement last June.

Today’s arrangement details the framework for a more efficient international cooperation on carbon capture, and storage (also known as CCS), thus contributing to the EU-goal of climate neutrality by 2050.

With carbon capture and storage, we are able to reduce and remove some of the emissions that would be otherwise very difficult to get rid of.

”We will not be able to reach our international climate goals without carbon capture and storage so it’s of absolute necessity that we develop a full-functioning industry, spanning across borders as well. In Denmark, we’re fortunate to have more storage space for carbon emissions than we emit, and the Netherlands have ambitious plans on the agenda with their hub projects – combining our forces and tying together the market will be essential to build up the industry and reach the EU-climate goals,” says Danish Minister for Climate, Energy and Utilities Lars Aagaard.

“CO₂ storage has proven itself as a short term cost effective way to reduce CO₂ emissions. Moreover CO₂ storage projects provide an opportunity for future carbon removals. With the combined efforts of Denmark and the Netherlands and the possibility of CO₂-transport across our boundaries we are taking significant steps towards an European open CCS-market and contributing to the EU-climate targets and economic development,” says Dutch Minister for Climate and Energy, Rob Jetten.

Read the arrangement here.

Facts

• Through various political agreements, Denmark has set aside funding of approximately 5 billion EUR for CCUS.
• International movement of CO₂is essential, as not all countries have the possibility to store CO₂. Regional cooperation and cross-border infrastructure are crucial elements in this respect.
• In 2022, the first ever arrangement for the framework for international transport of CO₂ was signed by Denmark, Belgium and Flanders.
• In June 2023 the Netherlands, Belgium, Flanders and Wallonia signed a similar arrangement as well.

Contact the press office of the Danish Ministry of Climate, Energy and Utilities at +45 41 72 38 05

Contacts Dutch Ministry of Economic Affairs and Climate press office:

+31 70 379 71 66