€170 million funding request for Apollo CO2 - Conversations with HellenIQ Energy and Titan

DESFA is awaiting the green light for the inclusion of the "Apollo CO2" project in the Innovation Fund, one of the largest carbon dioxide capture and storage projects in the EU.

The Operator is launching an investment of 500 million euros for the collection of carbon dioxide and its transport to the depleted Prinos deposit, with the option of Ravenna, Italy, also being considered as an alternative.

Final approval of the funding (approximately 170 million euros) for the project is expected in September, while at the same time, its preparation and contacts with companies interested in channeling their broadcasts to it are progressing rapidly.

In particular, DESFA is already in advanced discussions with Titan and HellenIQ Energy for the collection of their emissions, while the manager's goal is to complete the preliminary studies and approve the environmental licensing in 2026.

Furthermore, the Administrator aspires that in a few years it is very likely that the new natural gas-fired electricity generation units such as those of Metlen, DEPA in Larissa, PPC and DEPA in Alexandroupoli, and Motor Oil with TERNA in Komotini will have similar CO2 collection needs.

We remind you that the design of the project concerns a carbon dioxide collection and liquefaction system, which includes the creation of a pipeline network, 25 to 50 km long, that will transport CO2 from industries to special DESFA liquefaction facilities, near Revithoussa.

The liquefied carbon dioxide will then be transported by special ships to storage facilities, such as the planned facility in Prinos. Initially, however, the storage of CO 2 within the country will concern much smaller quantities.

The project being initiated by EnEarth, a subsidiary of Energean, to convert the depleted Prinos deposit into a CO2 storage facility will have a capacity of 1 million tons per year and in a second phase, when fully developed, it will reach 3 million tons per year.

In this context, the Greek side is examining the storage of carbon dioxide in special facilities in Ravenna, Italy.

Industries invest in CO2

Based on estimates from market sources, carbon dioxide emissions from large industries in Attica and Boeotia, including power plants, exceed 4 million tons per year and several of these industries, through Letters of Intent, have indicated their intention to participate in the program.

Given this, more and more domestic industries are starting investments in CO2 capture at their facilities. Recently, AGET Heracles, which belongs to the Holcim group, established a CCS unit at its Milaki plant, Aliveri.

Also, the cement company Titan has announced the Ifaistos project, a 584 million Euro carbon capture and storage investment in Kamari, Boeotia.

A similar project, called IRIS, with a budget of 300-400 million euros, is being planned by Motor Oil at the Agioi Theodoroi refinery, while HelleniQ Energy is launching a CCS unit at the Elefsina refinery (Persephone), combining it with the production of blue hydrogen.

source: Liberal