European Commission grants PCI status to CO2 capture project

The European Commission has granted the status of Project of Common Interest (PCI) to the CO2 capture and transportation project in Lithuania and Latvia. 

PHOTO: The Port of Riga in Latvia. Getty Images

A consortium called the CCS Baltic Consortium, including companies such as Mitsui O.S.K. Lines, KN Energies and Larvik Shipping, is developing the project. The consortium was formed in 2022 to create a CCS value chain in Lithuania and Latvia.

The project will capture CO2 generated in the industrial sector as well as from onshore and offshore transportation and ship it to permanent storage sites. The PCI status makes the project eligible for EU funding and also means that it is recognised as a cross-border infrastructure project. 

The consortium aims to begin operations by 2030. Project work, including analysis and feasibility studies, has already been completed. 

By Manjula Nair

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