INEOS Energy's $150 million acquisition of Hess' oil-producing assets in Denmark aims to enhance its energy portfolio while advancing carbon capture initiatives in alignment with Denmark's ambitious emission reduction targets.
Target Information
INEOS has undertaken ambitious projects focused on carbon capture and storage technology, aiming to support Europe's objectives in reducing CO2 emissions by 2030 and beyond. Among its significant initiatives is the Greensand project in Denmark, which is poised to be a trailblazer for carbon storage in Europe, utilizing large gas reservoirs under the North Sea for permanent CO2 storage. With the potential to store up to eight million tonnes of CO2 annually, this project aligns with Denmark's stringent climate goals.
Additional initiatives include collaborations in Grangemouth, Scotland, and Antwerp, Belgium, where INEOS partners with other industry players to enhance carbon capture infrastructure and technologies. By integrating these efforts across Europe and the U.S., INEOS aims to significantly improve energy efficiency and contribute to lower carbon footprints across various sectors.
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Industry Overview in Denmark
The Danish energy sector is at the forefront of the global transition towards sustainability, emphasizing renewable energy and reduction in fossil fuel usage. With ambitious targets, Denmark aims to d
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INEOS Energy
invested in
Hess’ oil-producing assets in Denmark
in 2023
in a Other deal
Disclosed details
Transaction Size: $150M