FEED Contract Marks Step Forward in Mediterranean’s First CO2 Storage Project

Why It Matters

The project creates the region’s inaugural large‑scale CO₂ storage hub, unlocking a critical pathway for EU industrial decarbonisation and opening new markets for low‑carbon services.

Key Takeaways

• Kent wins FEED contract for Greece’s first CO2 storage
• Prinos project targets 2.8 MtCO₂/year by 2029
• Facility repurposes existing oil field for carbon capture
• Project listed as EU PCI, boosting regional CCS hub
• First Mediterranean CO2 storage site to receive marine shipments

Pulse Analysis

The Mediterranean region is rapidly emerging as a focal point for carbon capture and storage (CCS) initiatives, driven by ambitious EU climate targets and the need for cross‑border energy security. By securing Project of Common Interest status, the Prinos facility aligns with the broader Mediterranean CCS Strategic Plan, a trilateral effort by France, Italy, and Greece to create a commercial‑scale storage hub. This designation not only streamlines permitting but also signals to investors that the project meets stringent European criteria for strategic relevance and financial viability.

Technically, the Prinos project leverages existing oil‑and‑gas infrastructure, converting the on‑shore Sigma plant and offshore platform into a fully integrated CO₂ handling system. Phase 1 will enable compressed CO₂ reception by 2026‑27, while Phase 2 expands capacity to 2.8 MtCO₂ per annum through a new subsea pipeline and dedicated injection platform. The inclusion of a marine terminal allows CO₂ imports from remote emitters, positioning the site as a logistical gateway for carbon streams across the region and enhancing the flexibility of the European CCS network.

From a business perspective, Kent’s involvement showcases the growing demand for engineering expertise in low‑carbon projects, opening revenue streams beyond traditional oil and gas services. Successful delivery could catalyze further repurposing of mature fields, attracting additional capital to the nascent Mediterranean CCS market. Moreover, the project’s long‑term storage horizon—approximately 20 years—offers a stable platform for carbon credit generation, supporting corporate net‑zero commitments and reinforcing Europe’s pathway to climate neutrality.