Page 12 - EurOil Week 31 2021

EurOil POLICY EurOil

EC clears $140mn in grants for

small-scale green projects

EUROPE THE European Commission has selected by 92% versus its reference scenario.
32 emissions-reducing projects for €118mn Another shortlisted project is a full-scale
The projects include a ($140mn) in grants, with the list of candidates CO2 capture and mineral storage unit planned
bio-LNG initiative and a including a bio-LNG initiative, a carbon cap- to be installed at the Hellisheidi geothermal
CCS scheme. ture and storage (CCS) scheme and several pilot power plant in Iceland. This unit would dissolve
green hydrogen projects. CO2 in water as it flows into subsurface basalt
The EC published the list on July 27, in which rocks, where it is fixed into stable carbonates. Its
it proposed support for FirstBio2Shipping, a capacity is set to be 34,000 tpy of CO2.
joint venture between companies Attero and “With today’s investment, the EU is giving
Bio-LNG Hub Wilp, to develop a plant in the concrete support to clean tech projects all over
Netherlands to produce up to 6mn cubic metres Europe to scale up technological solutions that
of biogas and 2,400 tonnes annually of bio-meth- can help reach climate neutrality by 2050,” the
ane. This gas would be used as a fuel in shipping. EC’s executive vice-president, Frans Timmer-
Bio-LNG is seen as a promising means of mans, commented in a statement. “The increase
decarbonising the global shipping industry, of the innovation fund proposed in the Fit for 55
which has fallen behind other sectors in reduc- package will enable the EU to support even more
ing its emissions over the decades and uses fuel projects in the future, speed them up, and bring
oil as its primary method of propulsion. The them to the market as quickly as possible.”
rationale is that bio-LNG can be used in ships The EC published its Fit for 55 proposal in
in service today that are equipped with LNG mid-July, which aims to align EU legislation
propulsion systems, with no upgrades necessary. with its new target of reducing GHG emissions
In contrast, other low-carbon alternatives for by 55% by 2030.
shipping fuel such as hydrogen and ammonia The list also included green hydrogen pro-
would require all new supply chains, infrastruc- jects in Estonia, Italy, Poland and Spain, and well
ture and vessel equipment to be developed. as energy storage and renewable energy initia-
The FirstBio2Shipping plant will consist of tives and other schemes to reduce emissions in
a gas treatment unit, a bio-LNG polishing and energy-intensive industries.
storage unit, and a carbon capture unit. In addi- Successful projects are starting to prepare
tion to bio-LNG, it would also produce 5,000 individual grant agreements, which should be
tonnes per year (tpy) of bio-CO2. It will use a finalised in the fourth quarter of 2021. This will
technology patented by Nordsol that is known allow the commission to award grants and start
as iLNG, the EC said, estimating that the plant disbursing the funds. The projects have up to
would reduce greenhouse gas (GHG) emissions four years to reach financial closure. ™

P12 www. NEWSBASE .com Week 31 05•August•2021