EU grants project of common interest status to CCS scheme in Latvia and Lithuania
The European Commission has granted the status of project of common interest (PCI) to the CO2 capture and transportation project in Lithuania and Latvia developed by the CCS Baltic Consortium.
The consortium consists of Akmenės Cementas, KN Energies, Larvik Shipping, Mitsui O.S.K. Lines (MOL), and Schwenk Latvija.
This means that the project is recognized as a key cross-border infrastructure project which will significantly contribute to the implementation of the energy policy and climate goals of the EU.
There are only 14 CO2 infrastructure projects listed in this award round as either PCI or project of mutual interest (PMI). These projects can benefit from several advantages including eligibility for financial support from the Connecting Europe Facility.
The consortium was formed in 2022 to capture CO2 generated in the industrial sector of Lithuania and Latvia and utilise onshore and offshore transportation to permanent storage sites. Analysis, feasibility studies, and applications for this grant have been completed with the start of operations scheduled for 2030.
Currently in Lithuania as well as in neighbouring Poland and Latvia, underground CO2 storage is prohibited. So CCS is an important option for companies in these countries facing challenges to achieve decarbonisation goals solely through process optimisation. The consortium hopes that the CCS value chain created by the project will contribute to the resolution of climate issues on a larger scale.
“This area is particularly relevant in sectors for which a quick transition from fossil fuels to renewable energy resources is difficult, for example in our industry – cement production. What‘s more, CCS is one of the most advanced technological solutions that could significantly contribute to the decarbonisation of the cement industry,” said Artūras Zaremba, Akmenės Cementas CEO.
“With a track record of safe and reliable carriage of liquified CO2 by ship over the past 35 years of our operations, we look forward to bringing our experience in the sector to benefit the Baltic CCS project and emitters across the region,” added Espen Tollevik, managing director of Larvik Shipping.
“We, as a shipping company and an interconnector of the CCS value chain, will devote ourselves to offering flexible and sustainable solutions so that the project can take on an important role in the decarbonisation of the Baltic area and more widely Europe,” concluded Suryan Wirya-Simunovic, MOL executive officer.
