By Paul Homewood
h/t Dennis Ambler
More money down the drain!
Read more at DutchNews.nl:
The Dutch government has allocated €2bn to a project to capture and store carbon dioxide in an empty gas chamber under the North Sea, broadcaster NOS reported on Monday, quoting Shell and Rotterdam port sources.
The Porthos project, which involves four companies based in the port area, will be the first large scale carbon capture scheme in the Netherlands. The 2019 government-brokered climate agreement states that half of the reduction in carbon emissions by industry could be done using the process.
At the moment companies pay for the right to emit carbon dioxide – currently around €50 a tonne. According to Rotterdam port authority calculations, capture and storage would cost around €80 a tonne. This means the government will pick up the difference and the subsidy will drop as the price of carbon emissions rise.
At the end of last year, Shell, ExxonMobil, Air Liquide and Air Products announced plans to apply for the Dutch government subsidy and said that by 2024, some 2.5 megatonnes of carbon dioxide could be stored in the empty gas chambers.
The infrastructure to reach the gas chamber, some 20 kilometres off the coast, will be put in place by the port, Gasunie and energy group EBN with the aid of European funding.
Earlier efforts to capture and store carbon emissions in the Netherlands have come to nothing. One plan, also involving Shell, was abandoned after protests by locals.
Shell is currently involved in other CCS projects in Canada and Norway.
Environmental group Greenpeace, which did not sign the Dutch climate agreement, says CCS is an expensive way to delay making real improvements to cut pollution.
2 billion euros for just a measly 2.5 million tonnes a year of carbon dioxide, just 1% of the Netherland’s total emissions!
And that’s only part of the cost, the £30/tonne subsidy. Companies already pay £50/tonne for emissions via carbon pricing, which ends up being paid by consumers. Therefore the true cost is £80/tonne, a total of over 5 billion euro.
On top of that comes the cost of the infrastructure to reach the gas chamber, which is paid by EU funding.
It appears most of the carbon capture will apply to the oil refineries and power stations. According to Euractiv:
The Dutch government has granted a consortium that includes oil majors Royal Dutch Shell and ExxonMobil around €2 billion in subsidies for what is set to become one of the largest carbon capture and storage (CCS) projects in the world, the Port of Rotterdam said on Sunday (9 May).
Shell and Exxon requested the subsidies in January together with industrial gas suppliers Air Liquide and Air Products for a project which aims to capture CO2 emitted by factories and refineries in the Rotterdam port area and store it in empty Dutch gas fields in the North Sea.
I suspect the oil produced in the Rotterdam oil refineries results in much larger emissions when burnt, than this 2.5 million tonnes. Maybe if the Netherlands government is serious, it should simply shut down those refineries!
via NOT A LOT OF PEOPLE KNOW THAT
May 14, 2021 at 12:21PM