As of June, applications may be filed to acquire funds from a carbon capture and sequestration (CCS) pool to send CO2 back into the underground. The funds have been allocated as part of Denmark's national North Sea policy and will go to projects focusing on new technologies for CCS in spent oil and gas fields in the North Sea, writes the Ministry of Climate, Energy and Utilities in a statement.
"Carbon storage will play a crucial role in meeting [Denmark's] ambitious climate target of a 70-percent reduction in CO2 emissions by 2030. CCS has a huge potential – now it's about scaling up the technology and bringing down its price, which we are supporting with this pool. Before the summer vacation period, the government will present a national strategy for CCS, so we can get the framework in place for the technology," says Climate Minister Dan Jørgensen.