Horisont Energi and Koole Terminals Expand Cooperation on European CCS Value Chain

The  MOU sets out the intention of the parties to develop CO₂ import and export terminals in continental Europe, including a Horisont Energi and Koole Terminals Expand Cooperation on European CCS Value Chain

Sandnes, Norway – 15 November 2023
Horisont Energi (EURONEXT: HRGI) and Koole Terminals B.V. have signed a non-binding Memorandum of Understanding to continue their collaboration on the development of a European carbon capture and storage (CCS) value chain. The agreement focuses on the joint development and marketing of the Gismarvik CO₂ import terminal, planned to become Norway’s largest CO₂ hub.

Under the agreement, CO₂ volumes are expected to flow from a new export terminal that Koole Terminals is exploring in Rotterdam, as well as from other European countries. As a result, the partnership aims to create a structured and scalable logistics network for CO₂ transport and storage across Europe.

Rotterdam and Gismarvik as Key CCS Hubs

The MOU outlines the intention to develop CO₂ import and export terminals across continental Europe. In particular, Koole Terminals is evaluating a potential CO₂ terminal in the Port of Rotterdam. This terminal would form part of a broader logistics solution that also supports clean ammonia.

Koole Terminals operates major liquid bulk terminals in Rotterdam and other European ports. Therefore, its operational experience is expected to play a critical role in accelerating CCS infrastructure development.

The proposed CO₂ terminal in Rotterdam would connect to the planned Delta Rhine Corridor CO₂ pipeline. Consequently, CO₂ volumes could be collected from multiple European locations and transported to storage terminals such as Gismarvik in Norway.

Storage Capacity and Logistics Potential

The potential Rotterdam CO₂ terminal could offer intermediate storage capacity of up to 200,000 tonnes of CO₂. Moreover, it could support the annual transport of several million tonnes of CO₂ to permanent storage facilities.

At the same time, the Gismarvik CO₂ terminal is designed to function as a central injection hub. With an anticipated annual capacity of 20–24 million tonnes, the terminal could support multiple carbon storage projects on the Norwegian Continental Shelf.

Horisont Energi has already developed a fit-for-purpose offshore injection system. In addition, the company has initiated permitting processes for ship offloading, temporary storage, processing, compression, and pipeline transport to subsea reservoirs.

Building a European CCS Value Chain

The MOU confirms the parties’ intention to continue joint marketing and development of the Gismarvik terminal. CO₂ volumes would be transported from Koole Terminals’ planned Rotterdam export terminal and other European locations. As a result, the project would form a key part of a fully integrated European CCS value chain.

“Our ambition is to build a carbon capture and storage value chain in Europe together with our partners,” says Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi. “A CO₂ terminal in Rotterdam is expected to serve as a gateway from Europe to Norway’s CCS market. Moreover, Koole Terminals’ strong customer base and terminal expertise will help accelerate this development.”

Rotterdam’s Strategic Energy Role

The Port of Rotterdam remains Europe’s largest energy hub. Approximately 13 percent of Europe’s total energy demand enters the EU through this port. Therefore, its role in future CCS logistics is considered strategically important.

John Kraakman, CEO of Koole Terminals, states: “Significant progress has been made in strengthening our CO₂ storage capabilities in Rotterdam. Furthermore, we see strong synergies in jointly developing the Gismarvik CO₂ terminal, supported by our experience in terminal operations and logistics.”

Certification, Traceability, and Clean Energy Expansion

In addition to infrastructure development, the companies plan to explore certification and traceability solutions. These systems would enable auditable inventory control, emissions certification, and CO₂ trading frameworks.

Furthermore, Horisont Energi and Koole Terminals expanded their cooperation in December 2022 to include clean ammonia. Both companies share a strong commitment to sustainability, decarbonization, and the broader energy transition.

About Horisont Energi

Horisont Energi is a Norwegian clean energy company providing carbon transport and storage services, as well as clean energy solutions. The company develops clean ammonia and hydrogen using proprietary technology and supports the transition to a low-carbon economy. Horisont Energi was founded in 2019 and is headquartered in Sandnes, Norway.

About Koole Terminals

Koole Terminals is a leading independent storage, processing, and logistics company serving liquid bulk markets across Europe. With 21 terminals and 5.4 million cubic meters of storage capacity, Koole supports energy transition efforts through safe, reliable, and sustainable terminal operations.

You can follow us on:
https://twitter.com/horisontenergi
https://www.linkedin.com/company/horisontenergi/

For more information, please contact:

Bjørgulf Haukelidsæter Eidesen
+47 990 36 892
bhe@horisontenergi.com

Leiv Kallestad, CFO
+47 958 95 661
leiv.kallestad@horisontenergi.com

Siri Melberg
+47 470 36 718
sm@horisontenergi.com

About Koole Terminals
Koole Terminals is a leading and independent storage, processing, and logistics company, enabling business growth through integrated and innovative service offerings for liquid bulk products, driving energy transition for a sustainable future by supporting its customers. With 21 strategically located terminals in Europe and a total volume of 5,4 million cubic meters, Koole meets its customers’ needs by transporting, storing, blending, and processing a wide range of products, with a focus on safety, reliability and sustainability efforts, targeting a lower carbon footprint through a focus on energy efficiency.
koole.com

For more information, please contact:

Tamme Mekkes, Business Development Director
+31 6 83 58 94 25
t.mekkes@koole.com

Jasmijn Stolk, Manager Corporate Communications
+31 6 82 99 05 58
j.stolk@koole.com