EnEarth, a subsidiary company of the Energean group, has submitted an application for a Carbon Dioxide (CO2) Storage License in Prinos, Kavala, to the Hellenic Hydrocarbons and Energy Resources Management Company (EDEYEP).
According to the application, the storage capacity of the first phase of the project will be up to 1 million tons of CO2 per year, while at full development the storage capacity could reach 3 million tons per year.
Suitability as a storage location
With the application submitted by EnEarth, it requests: approval of suitability as a CO2 storage site as demarcated and specified in the ‘Exploitation Authorization’ and activation of the CO2 storage right.
On the occasion of filing the ‘Storage Authorization’ application, Dr. Katerina Sardis, CEO and Country Manager of Energean in Greece stated:
“The submission of the application is a decisive step towards the implementation of the project and demonstrates the commitment of EnEarth and the Energean group to an investment, which in its first phase will be around 500 million euros. The granting of the ‘Storage Authorisation’ will be a milestone that will ensure the realisation of the Prinos storage project in a timely and realistic manner.
The importance of the project is enormous for the industry of our country and the entire region and for jobs in the sector, as well as for the environment, the Greek economy and local communities. The unfortunate development of the natural gas storage project in South Kavala should serve as a guide, so that past failures can be avoided and this new project can proceed safely and in the shortest possible time.”
It should be noted that the application is accompanied by a set of studies and technical reports on the suitability and suitability of the underground warehouse.