Porthos – a project among the Port of Rotterdam Authority, Gasunie and EBN in the Netherlands – showcases how effective financing can drive low-emission energy infrastructure deployment by supporting both supply and demand. Porthos has received over €100 million in grants and subsidies from the EU for the development of CCS infrastructure.45 Through the Sustainable Energy Production and Climate Transition Incentive Scheme (SDE++), the Dutch government has committed €2.1 billion to support four major industrial players (Shell, ExxonMobil, Air Liquide and Air Products) in reducing their CO2 emissions by capturing and storing them under the North Sea. This is achieved through a 15-year operating subsidy from SDE++, enabling industries to cost-effectively reduce their emissions by bridging the cost gap between processes with and without CCS.46 Porthos aims to capture approximately 2.5 million tonnes of CO2 annually, drawn from industrial companies in Rotterdam’s port area, which is estimated to result in 37 million tonnes of CO2 being captured over a 15-year period.

"This project is a vital step towards our ambitious goal of reducing CO2 emissions in the Rotterdam port area by 55% by 2030 and transforming into a carbon-neutral port by 2050. As one of Europe’s leading energy hubs, we’re dedicated to building the CO2 infrastructure and international connections needed to drive down emissions across European industry and foster a sustainable future together." - Boudewijn Siemons, Chief Executive Officer, Port of Rotterdam

Stakeholders

the Dutch Government, Port of Rotterdam, Gasunie, EBN, Shell, ExxonMobil, Air Liquide and Air Products