Orlen invests in underground CO2 storage. Brussels adds 223 million euros

Orlen's Atlas project will receive €223 million from the EU's Innovation Fund to inject 6 million tons of CO2 annually into geological formations in the North Sea. The initiative, a collaboration with Aker BP and Höegh Evi, aims to utilize existing licenses for CO2 storage. The project plans to transport CO2 directly from specialized ships, eliminating the need for offshore platforms, thus reducing costs. The final investment decision is expected in 2028, with operations projected to start in 2031. The project is among 77 selected for EU funding, highlighting its innovative potential in emission reduction.