AB KN Energies has secured a Grant Agreement with the European Commission to conduct technical and commercial studies for a planned CO2 terminal in Klaipėda. The terminal is part of the CCS Baltic Consortium's cross-border carbon capture, transport, and storage initiative spanning Lithuania and Latvia. The European Commission will contribute over EUR 3 million from the Connecting Europe Facility programme, covering 50% of the study costs. This funding will support various assessments to facilitate a Final Investment Decision by 2027, with commercial operations expected to commence in 2030. The project has been recognized as a Project of Common Interest, making it eligible for such funding. The CCS Baltic Consortium, formed in 2022, includes multiple organizations such as Akmenės Cementas AB, Larvik Shipping AS, Mitsui O.S.K. Lines, Ltd., and SCHWENK Latvija SIA, alongside collaboration with gas transmission operators Amber Grid and Conexus Baltic Grid.
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