The captured CO2 will be transported by ships for storage (CCS) and reuse (CCU), thus enabling large-scale emission reductions.
Icelandic Carbfix and Danish shipping company Dan-Unity CO2 have reached an agreement for the transfer of CO2 to the Coda terminal, a new CO2 ore storage terminal in Straumsvík, Iceland. Carbfix estimates that Iceland has a capacity of 2,500 gigatons of CO2, or more than 55 years of emissions from the entire planet.
The shipping company will transport the CO2 on specially designed vessels that run on low carbon fuels. The carbon footprint of the shipment will only be around 3 to 6% of the CO2 that will be eliminated.
“Carbfix’s technology offers a safe, permanent and cost-effective alternative to conventional carbon capture and storage solutions by mimicking and accelerating nature’s way of storing inorganic CO2. By dissolving CO2 in water and leaching it. ‘injecting into the basalt formations of the metro, the CO2 is converted to stone in less than two years, ”said Edda Sif Pind Aradóttir, CEO of Carbfix.
The captured CO2 will also be used for alternative forms of energy, such as CCU and Power-to-X, and once the ships are built, they will be able to transport the CO2 either for storage in Iceland or in oil fields. offshore exhausted, or for use in a Power-to-X plant.
“The technology and the expertise are in place. Capture, transport and storage are proven concepts; therefore, what is needed to start building the necessary vessels is to ensure that the regulatory framework, including CO2 taxation, is in place, ”said Steffen Jacobsen, CEO of Evergas.
The import and storage of CO2 in Iceland is legalized and supported by local government and parliament, paving the way for early and large-scale CO2 reduction for northern European industries, enabling emissions to d ‘be safely stored forever.
A single vessel can safely and inexpensively transport 450,000 tonnes of C02 per year. The ships will be built for this purpose and will therefore not be compatible with any other trade. Long-term contractual commitments are therefore necessary to start new construction projects.
The construction time for a ship should be 27-28 months for the construction of a CO2 ship.
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