Iceland CO2 Storage Port

A new development in decarbonizing international trade looks promising. If it works, technically and cost-effectively, it may be something to look at in your supply and distribution chains when planning how to reduce your carbon footprint. In Iceland, Carbfix is developing the first large scale geological storage project in Europe that will transport CO2 emissions by ship from neighbouring countries to the CODA Terminal at a port in Iceland, where it will be turned into rock and stored. It will be injected into basaltic bedrock where it rapidly turns into stone via Carbfix’s technology.

In the Carbfix process, CO2 is dissolved in water then injected deep underground, where it turns into stone in less than two years. The only inputs for the process are water, electricity and CO2 and the only other necessity is reactive rock formations such as basalts. The company says that the entire on-site operation will run on renewable energy, plentiful in Iceland via hydro and geothermal. The CODA Terminal will be constructed in three phases: preparation, beginning in 2021; drilling, starting in 2022; and operations, commencing in 2025 and reaching full scale by 2030. At full scale, the CODA Terminal, based in the bay of Straumsvík, in South West Iceland, will provide an annual storage capacity of three million tonnes of CO2. The company explains that the name, CODA, is a musical term referring to a concluding passage that bring the musical piece to a satisfactory close.

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