Following an invitation by the organisers, Vostock Capital, IENE participated in the 3rd Turkiye and Black Sea Oil and Gas Conference, held in Istanbul on December 11-12, 2024. This annual event serves as a vital platform for gathering executives and experts from the oil and gas sector across the region to address emerging challenges and opportunities. Representing IENE, petroleum geoscientist and Research Fellow Kostis Oikonomopoulos delivered a presentation on the cost-benefit analysis (CBA) of CCUS hubs implementation in Greece, a follow-up to IENE’s 2023 study on CCUS hubs.
The presentation highlighted the development of CCUS hub clusters as a forward-looking solution, with each hub designed to serve groups of industries in specific locations through a decentralised system. The study explores the transportation of liquefied CO2 via ships and its geological storage, either in the Prinos field or alternative locations in Greece and abroad. Preliminary findings indicate that substantial grant-type funding is necessary for the development and construction of CCUS hubs, as CCUS implementation remains financially unfeasible without subsidies. Currently, four CCUS projects are underway in Greece, all funded by EU facilities. These initiatives underline the critical role of CCUS in advancing the energy transition and mitigating environmental challenges. Kostis’ full presentation can be found here.
