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CapeOmega and Neptune Energy join for cross-border project

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Picture of Meenal Datar

Meenal Datar

Membership specialist

Oil and natural gas company, CapeOmega and oil and gas exploration and production company, Neptune Energy have announced a joint project. NoordKaap is a project concept for a cross-border CO₂ storage solution for industrial emitters across Europe.

It will involve transporting CO2 via vessels suitable for directly injecting the CO₂ at offshore locations and for terminal offloading. RWE has also signed a letter of intent with CapeOmega and Neptune Energy in order to assess the possibility to ship green CO2 from their biomass Eemshaven facility for offshore storage in the Dutch North Sea.

The overall objective of NoordKaap is to provide cost-effective, scalable infrastructure solutions to facilitate large-scale, flexible CO2 transport and storage from multiple industrial emitters clusters.

Evy Glørstad, CEO of CapeOmega says: ‘NoordKaap comprises an integrated partnership of all stakeholders in the value chain, from emitters to storage facility owners, to ensure close coordination of these proposals as part of the development of a successful decarbonsation strategy…NoordKaap would enable us to use our position and experience in pipeline, terminal, shipping and offshore licence ownership to support CCS and decarbonisation.’

‘CO₂ storage is a crucial component for meeting the EU’s climate goals and for a well-functioning CCS market…CCS also supports Neptune’s strategy to store more carbon than is emitted from our operations and from the oil and gas products we sell by 2030,’ adds Lex de Groot, managing director of Neptune Energy in the Netherlands.

Roger Miesen, CEO of RWE Generation, says: “RWE is keen to explore this opportunity together with CapeOmega and Neptune Energy…Our ambition is to make this happen in 2030. That is why the NoordKaap project is such an interesting opportunity for us.”

NoordKaap is planned to be operational in 2028.

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