New submitter sonlas writes: Denmark is inaugurating Project Greensand, the first cross-border CO2 storage site, shipping CO2 from Belgium to store it into a depleted oil field under the Danish North Sea. “With the first injection taking place on Wednesday, the project aims to safely and permanently store up to eight million tons of CO2 every year by 2030, the equivalent of 40% of Denmark’s emission reduction target and over 10% of the country’s annual emissions,” reports Euractiv. However, this is to be put in perspective with global CO2 emissions, which reached a new high of more than 36.8 billions tons in 2022.
A report by Rystad Energy shows that if investments were to quadruple, we should be able to capture 150 million of tons of CO2 per year by 2025, still a drop of water in, or under, the ocean. Furthermore, the whole process of sequestering CO2 underground emits itself ~21% of the amount of CO2 stored, as shown in a study by Australian think tank IEEFA.
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