November 17, 2025
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Project pipeline in Greece for CO2 capture, storage nearing EUR 4 billion

Carbon capture and storage projects worth as much as EUR 3.6 billion are under development in Greece. Energean’s subsidiary EnEarth has launched a tender for drilling two wells for the Prinos site under the Aegean Sea, while DESFA won a EUR 169 million EU grant for a carbon dioxide liquefaction unit.

Investors in Greece are counting on demand from the domestic industry for carbon capture and storage (CCS), so that it can remain competitive with regard to carbon dioxide emission costs. Euro2day calculated that the project pipeline is worth up to EUR 3.6 billion as the endeavors are clearing major milestones.

The time for drilling in Prinos is approaching. EnEarth, a subsidiary of Energean, is working on the establishment of the storage facility offshore Kavala. Earlier this month it launched a tender for drilling two wells.

The Prinos project is valued at EUR 1.2 billion

Works are scheduled to begin in the first half of next year. The project is worth EUR 1.2 billion, of which the firm secured EUR 270 million in funding from the European Union. It is waiting for environmental terms (AEPO) from the Ministry of Environment and Energy, as well as for the storage permit.

Notably, a draft law covering the sector is reportedly complete.

DESFA seeks contractor to drill two wells in Prinos

Another step ahead was achieved with a project for a pipeline that would transport CO2 from energy-intensive industrial facilities to a liquefaction system in Revithoussa. The endeavor is called ApolloCO2. Greece’s National Natural Gas System Operator (DESFA) won EUR 169.3 million through the European Union’s Innovation Fund for the terminal.

The system would include temporary storage and transport by ships to permanent storage. The budget amounts to EUR 700 million in the first phase, with another EUR 60 million envisaged for an expansion.

ApolloCO2 is in a group of 61 projects in the Innovation Fund’s latest round for net zero technology, worth EUR 2.9 billion in total.

DESFA is working on the investment with Ecolog, a subsidiary of GasLog.

EU funding three major carbon capture projects that would be connected with Prinos storage site

AppoloCO2 would bring CO2 from three capture facilities also funded by the EU. There is a possibility to involve overseas customers as well.

Cement maker Heracles, part of Holcim Group, is developing the Olympus project worth EUR 400 million in Milaki, Aliveri. Its competitor Titan has a EUR 584 million endeavor underway in Kamari, Boeotia (Viotia). It is called Ifestos.

DESFA has applied for EUR 30 million from Connecting Europe Facility for the CO2 pipeline

Motor Oil Hellas aims to install a unit in its Agioi Theodoroi oil refinery costing EUR 300 million to EUR 400 million. The project is called IRIS – Innovative low caRbon hydrogen and methanol productIon by large Scale carbon capture. It is for the construction and operation of a CCUS and e-methanol production system that would cut the refinery’s CO2 emissions by a quarter. CCUS stands for carbon capture, utilization and storage.

DESFA is seeking EUR 30 million from the EU’s Connecting Europe Facility (CEF) for a 35-kilometer CO2 pipeline. The first part would go from Ifestos and branch out to HELLENiQ Energy’s oil refinery in Elefsina (Eleusis). In subsequent phases, pipelines would reach Heracles’ Olympus, Metlen’s aluminum complex in Aspra Spitia, Thisvi in Boeotia (for GEK Terna’s Heron and HELLENiQ’s subsidiary Elpedison), and eventually Motor Oil’s IRIS.

As capacities grow, larger ships would be required to lower transportation costs. According to the article, three such vessels would cost EUR 240 million overall.

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November 10, 2025
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Cement maker Holcim gets EU grant for carbon capture project in Romania

A carbon capture and storage (CCS) project developed by cement maker Holcim Romania has been awarded financing under the European Union’s Innovation Fund. The European Commission has selected 61 cutting-edge net-zero technology projects across the EU to receive a total of EUR 2.9 billion in funding, covering sectors such as oil refining, hydrogen, transportation, chemicals, iron and steel, and the manufacture of components for renewable energy plants and batteries.

Holcim’s project at its plant in Câmpulung, Argeș county, involves capturing CO2 from cement and lime production and storing it underground. The first large-scale onshore CCS project of its kind in Eastern Europe is expected to produce an estimated two million tons of near-zero cement annually from 2032, according to a press release from Holcim.

The project will enable Holcim Romania to produce two million tons of near-zero cement annually

Carbon Hub CPT 01 will use proven carbon capture technology to separate CO2 from flue gases, which will then be compressed and transported for permanent, safe storage underground, the company said.

The Switzerland-based cement producer now has eight large-scale EU-supported carbon capture projects – in Germany, Poland, Belgium, France, Croatia, Greece, and Romania, according to the press release.

Decarbonizing energy-intensive industries across the EU

The European Commission said that the EUR 2.9 billion in grants follow its first call for net-zero technologies (IF24 Call), launched in December 2024, aiming to strengthen the EU’s technological leadership and accelerate the deployment of innovative decarbonization solutions.

The selected projects span 19 industrial sectors in 18 countries, focusing on energy-intensive industries, renewable energy and energy storage, net-zero mobility and buildings, cleantech manufacturing, and industrial carbon management.

The largest number of selected projects is in the cement and oil refining sectors

The largest number of awarded projects is in the refineries sector, with 11, followed by 10 in the cement and lime sector, 6 in the manufacturing of components for renewable energy, and 4 in the manufacturing of components for energy storage.

Other sectors on the list include chemicals, solar, maritime, road transportation, aviation, non-ferrous metals, hydrogen, buildings, construction materials, geothermal energy, and the manufacturing of components for energy-intensive industries.

The 61 selected projects have the potential to cut some 221 million tons of CO2 equivalent over their first decade of operation, supporting the EU’s objective of achieving climate neutrality by 2050, according to a press release from the European Commission.

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May 30, 2025
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Olympus carbon capture project breaks ground in Greece

Carbon capture, utilization and storage (CCUS) is a must for the future of the cement industry, Greek Prime Minister Kyriakos Mitsotakis said at the launch ceremony for Heracles Group’s Olympus project.

It is one of the very first CCUS plants in Greece, valued at EUR 380 million. The unit in the group’s Milaki cement production complex in the island of Evia (Euboea) is expected to capture up to one million tons of CO2 annually. Emissions from the facility are expected to decrease to net zero by 2029.

Other industrial players also have plans to introduce CCUS.

Cement producer Titan Group is moving forward with a EUR 583 million investment in Boeotia (also Beotia and Viotia) called Ifestos. The carbon capture installation is scheduled for launch in December 2029. In its first year, it is expected to reduce CO2 emissions to the atmosphere by 1.9 million tons.

Motor Oil Hellas aims to install a unit in its Agioi Theodoroi oil refinery for a cost of EUR 300 million to EUR 400 million. The project is called IRIS – Innovative low caRbon hydrogen and methanol productIon by large Scale carbon capture. It is for the construction and operation of a CCUS and e-methanol production system that would cut the refinery’s CO2 emissions by a quarter.

Motor Oil and Titan have won grants from the European Union’s Innovation Fund.

“Support is needed to make these investments viable. Greece is at the forefront of convincing European institutions to provide it,” said Mitsotakis.

The companies’ executives discussed CCUS market developments this week in Athens with European Commissioner for Climate, Net Zero and Clean Growth Wopke Hoekstra.

Prinos CO2 project to store industrial carbon

Captured carbon from these industries would be transferred to the former underground oil deposit in Prinos, offshore Kavala, for storage. Energean is developing the site, aiming for an annual capacity of three million tons, which would be doubled in the second phase.

The first drilling in Prinos is expected in 2026. Energean’s subsidiary EnEarth has signed 15 memoranda of understanding with various Greek and foreign companies.

The facility would be able to store up to six million tons after the second phase is complete. The National Natural Gas System Operator (DESFA) is tasked with delivering the gas there, under a project called Apollo CO2.

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