On Monday 28 October, the European Commission authorised, under EU State aid rules, €150 million of aid from Greece made available via the Recovery and Resilience Facility (RRF) to support the construction of a carbon storage facility in Prinos.
The beneficiary of the measure is EnEarth Ltd, the Greek subsidiary of Energean Plc (development of resources in the Mediterranean and North Sea).
The aid will fund part of the cost of building the onshore and offshore infrastructure needed to create the carbon storage facility. The installation will be rolled out in two phases, but only the first phase will be funded by the current measure. In the first phase, EnEarth will build a large gas pipeline to transport up to one million tonnes of CO2 per year emitted by industrial players from the collection site on land to the storage site at sea. This ramp-up phase will precede the expansion of the facility, the capacity of which will be increased to 2.5 million tonnes of CO2 per year during the second phase. (Original version in French by Lionel Changeur)