INEOS Energy's acquisition of Hess' oil-producing assets in Denmark for $150 million aims to enhance its portfolio, support carbon capture initiatives, and contribute significantly to the country's climate goals.

Target Information

INEOS Energy is advancing carbon capture and storage technology through a strategic focus on several pivotal projects across Europe and the United States. The organization's commitment aims to support Europe's ambitious CO2 emission reduction goals for 2030 and beyond. Current projects include significant initiatives in Grangemouth, Scotland; Antwerp, Belgium; Houston, Texas; and the Greensand project in Denmark, which collectively have the potential to capture and store millions of tonnes of CO2 annually.

The Greensand project, notable for its ambition to permanently store up to eight million tonnes of CO2 each year beneath the North Sea, is particularly groundbreaking. As operations cease in the INEOS-operated Siri and Nini areas, CO2 captured from various industrial sources will be transported offshore for permanent storage. By embedding new technologies and methodologies for carbon management, INEOS is not only contributing to regional climate strategies but also enhancing its operational capabilities in a critical and evolving sector.

Industry Overview in Denmark

Denmark is recognized as a leader in climate action and renewable energy, having set ambitious targets for reducing CO2 emissions by 70% by 2030 compared to 1990 levels. The Danish government has initiated various polic