The creation of a new company called EnEarth, which will be active in the capture, transport and storage of carbon dioxide, was announced by Energean today, her day of celebration World Environment Day.

EnEarth aims to create “green” nodes by exploiting hydrocarbon deposits that are either on the way to depletion or have already been depleted, as well as other geological formations deemed suitable for conversion into sustainable carbon dioxide (CO2) storage.

More specifically, EnEarth will be active:

-In the storage of CO2, in principle in Prinos of Kavala, with the prospect of storing up to 3 million tons of CO2 per year in full development.

– In CO2 transport in collaboration with Prime Marine, specialized in marine transport.

-In the direct capture of CO2 from the atmosphere (Direct Air Capture and Storage – DACS).

EnEarth’s activity starts in Kavala, where the company will implement a pilot capture of CO2 directly from the atmosphere with the aim of starting the operational capture of CO2 from the atmosphere of Kavala from the beginning of 2026.

For the implementation of the project, a direct CO2 capture system is to be installed at Energean’s onshore facilities in Nea Karvali

On the occasion of the establishment of the company, Mr. Nikolas Rigas, head of EnEarth’s Carbon Storage sector, said: “With the creation of EnEarth, we are proceeding with an innovative initiative that aims to transform Northern Greece into a “green ” hub in the Eastern Mediterranean with CO2 capture and storage, ushering in a new way of using existing hydrocarbon facilities. EnEarth offers a new sustainable and environmentally friendly industrial practice, which can be a reference point for the benefits arising from the use of new know-how in traditional industrial activities”.

On her part, Dr. Katerina Sardis, Managing Director and Country Manager of Energean in Greece said the following: “The announcement of this new activity from Kavala and indeed on World Environment Day is not only symbolic. Prinos has been an example of harmonious coexistence of the oil industry and natural gas with environmentally sensitive and impressive natural beauty areas, with tourism, with fishing and, in general, with every activity in the area. Prinos has an ideal, strategic geographical location to host CO2 storage, which will have obvious benefits for the environment, help sustain industrial activity in Greece and fuel a new cycle of economic growth and employment, creating and know-how with added value for local communities”.