Dutch g’ovt gives $2.4bn in subsidies to fund carbon capture plan

The plan, which starts in 2024, aims to reduce emissions in the industrial cluster surrounding Europe’s largest port.

The Dutch government has granted a consortium that includes oil majors Royal Dutch Shell and ExxonMobil approximately 2 billion euros ($2.4bn) in subsidies for what is set to become one of the largest carbon capture and storage (CCS) projects in the world, the Port of Rotterdam says. Shell and Exxon requested the subsidies in January together with industrial gas suppliers Air Liquide and Air Products for a project that aims to capture carbon dioxide emitted by factories and refineries in the Rotterdam port area and store it in empty Dutch gas fields in the North Sea. The companies involved have been told that their applications will be granted, port spokesman Sjaak Poppe told Reuters, confirming an earlier report by Dutch public broadcaster NOS.