Sandway, Norway, 15 November 2023: Horisont Energi (EURONEXT: HRGI) and Koole Terminals B.V (Koole Terminals) have signed a non-binding memorandum of understanding “MOU”) to continue their collaboration to explore the potential development of a European carbon capture and storage (CCS) value chain. It is the intention of the parties to develop and market Gismarvik, Norway’s largest planned CO2 import terminal, with volumes anticipated to flow from a new CO2 export terminal which Koole Terminals is exploring in Rotterdam and various other countries.
The MOU sets out the intention of the parties to develop CO2 import and export terminals in continental Europe, including a potential Koole Terminals CO2 terminal in Rotterdam as a part of a larger logistics solution for CO2 and clean ammonia. Koole Terminals is one of the leading operators in storage, processing, and logistics in Rotterdam and other European ports.
The potential new to be developed Koole Terminals CO2 terminal in the Port of Rotterdam would be connected to the planned Delta Rhine Corridor CO2 pipeline, allowing volumes to be gathered from several places on the continent, and shipped to carbon storage terminals like the Gismarvik CO2 Terminal in Norway. A potential Koole Terminals CO2 Terminal in Rotterdam could have an intermediate CO2 storage capacity of up to 200.000 tonnes of CO2, accommodating transport of multi-millions of tons of CO2 to carbon storage annually.
The MOU envisages that Horisont Energi and Koole Terminals will continue to explore the joint marketing and development of a CO2 terminal at Gismarvik with volumes transported from Koole Terminals’ planned CO2 export terminal in Rotterdam and other European countries, as part of a European CCS value chain.
The intention for a Gismarvik CO2 terminal is to become an injection hub for CO2 before permanent storage at Horisont Energi’s or at other carbon storage locations on the Norwegian Continental Shelf. With an anticipated annual capacity of 20-24 million tonnes, following design maturation and development, the Gismarvik CO2 terminal has the potential to function as intermedia storage for several CO2 storage projects. A fit-for-purpose CO2 injection solution and system design has already been developed for the offshore part. Horisont Energi has developed plans and started permitting for such a terminal covering offloading from ships, temporary storage, process, and compression prior to pipeline transport to subsea reservoirs for sequestration.
“Our ambition is to build a carbon capture and storage value chain in Europe together with our partners. A proposed CO2 terminal in Rotterdam is intended to play a central role in this context as the gateway from Europe to Norway’s CCS market, both in terms of existing and our planned new carbon storage licences. Koole Terminals’ strong customer base and experience in operating major liquid bulk terminals in central ports of Europe is anticipated to aid in contributing to acceleration of the establishment of the CCS value chain. We look forward to continuing our close collaboration,” says Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.
The Port of Rotterdam is the major energy hub for Western Europe, as around 13 percent of the total energy demand in Europe enters the EU through this Port.
“Material progress has been made in enhancing our potential CO2 intermediate storage capabilities at Rotterdam since our collaboration commenced. We recognise the synergies in engaging in the potential joint development of the Gismarvik CO2 terminal in Norway, drawing upon our extensive expertise in managing terminals and logistics,” says John Kraakman, CEO of Koole Terminals.
Horisont Energi and Koole Terminals also expect to explore certification solutions to develop fully auditable comingled inventory control, emission certification, traceability management, and trading solutions for CO2.
Horisont Energi and Koole Terminals extended the scope of cooperation to cover clean ammonia in December 2022. The Parties share common values and are strongly committed to working towards sustainability, decarbonization, and the fundamental role of clean energy.
About Horisont Energi
Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that provides clean energy and carbon transport and storage services. The company will transform gas, water and renewable energy into cost-leading clean ammonia and hydrogen and offer CO2 transportation and storage services using proprietary technology, paving the way for a low carbon economy. The company was founded in 2019 and is headquartered in Sandnes, Norway. www.horisontenergi.no
For more information, please contact:
Bjørgulf Haukelidsæter Eidesen
+47 990 36 892
Leiv Kallestad, CFO
+47 958 95 661
+47 470 36 718
About Koole Terminals
Koole Terminals is a leading and independent storage, processing, and logistics company, enabling business growth through integrated and innovative service offerings for liquid bulk products, driving energy transition for a sustainable future by supporting its customers. With 21 strategically located terminals in Europe and a total volume of 5,4 million cubic meters, Koole meets its customers’ needs by transporting, storing, blending, and processing a wide range of products, with a focus on safety, reliability and sustainability efforts, targeting a lower carbon footprint through a focus on energy efficiency.
For more information, please contact:
Tamme Mekkes, Business Development Director
+31 6 83 58 94 25
Jasmijn Stolk, Manager Corporate Communications
+31 6 82 99 05 58