EPICO KlimaInnovation has published a new Policy Paper on carbon management in the North Sea region and its role in achieving Europe’s climate goals. The paper outlines how fragmented national initiatives should be coupled with a cohesive European strategy to develop the North Sea as Northern Europe’s CO2 storage hub.
Europe’s ability to meet its 2040 and 2050 climate targets will depend on how quickly it can scale carbon capture, utilisation and storage (CCS/CCU), while developing cross-border infrastructure to connect industrial hubs with storage and utilisation sites. Countries around the North Sea are advancing at different speeds, yet they all face the shared challenge of scaling pilot projects to full-scale deployment. For certain energy-intensive industries, carbon management will be crucial to achieve deep emission reductions and safeguard industrial competitiveness.
However, substantial progress - at the necessary rate - is currently held back by fragmented regulatory approaches, uncertainty regarding long-term investment signals and cross-border transport networks and mechanisms to the North Sea storage. National strategies are often designed in isolation, without looking at the bigger picture for cross-border CO₂ transport and utilisation. Without coordination, Europe risks underutilising its storage potential in the North Sea and missing the opportunity to build an integrated system that can reduce costs, accelerate deployment, and strengthen industrial resilience in Europe and amongst its neighbours.
What we propose:
- Establish a pan-European CO₂ transport network with harmonised legal and regulatory frameworks.
- Mobilise investment through coordinated public-private financing models.
- Promote sector-specific pathways for hard-to-abate industries.
- Optimise storage capacities through integrating ETSs and carbon accounting mechanisms.
- Leverage the oil and gas sector’s expertise to accelerate the development of large-scale geological storage in the North Sea.
Dr. Bernd Weber, CEO and Founder, EPICO KlimaInnovation
“Europe now needs a large-scale joint CO₂ infrastructure project to make its energy-intensive industries fit for the future. This includes harmonised rules, investments in transport networks, access to storage capacities in Norway and the United Kingdom, as well as the development of European lead markets for climate-neutral products. Without European coordination, carbon management will remain fragmented – and our industry will lose competitiveness.”
Holly Attwell, Energy Policy Specialist, EPICO KlimaInnovation
“By creating harmonised rules, stable and long-term investment signals, and cross-border CO₂ infrastructure development, Europe can scale CCS projects to mitigate industry emissions of some of the most hard-to-abate sectors and support a strong and competitive green economy.”