Blue Water Shipping - Experts & Thought Leaders

Partners have signed an agreement to investigate the possibility of establishing transport of CO2 from biogas plants in North Denmark, temporary storage facilities in the Port of Hirtshals, and shipping to the North Sea, where the CO2 will be injected into the subsoil. The project, named Greenport Scandinavia, thus involves the entire value chain for Carbon Capture and Storage (CCS). Green transition "It is a fantastic project that we at Blue Water are delighted to be a part of. We are transport and logistics experts and are super excited to be part of developing a new industry," says Jacob Kjærgaard, Regional Director of Energy, Ports & Projects Europe, Blue Water. Jacob Kjærgaard adds, "As a global operator with local interests, we want to contribute to the green transition, which is why we participate in various projects focusing on climate and energy transition." Negative emissions Since the CO2 is biogenic, the storage will result in negative emissions to achieve the Danish climate goals The partners are INEOS Energy, Wintershall DEA, Hirtshals Havn, Biocarb Solution, Evida, Greenport North, and Blue Water. The project is the first of its kind in Denmark. Since the CO2 is biogenic, the storage will result in negative emissions, which can make a significant contribution to achieving the Danish climate goals of a 70 percent reduction in greenhouse gas emissions by 2030. Storing biogenic CO2 "At INEOS, we have come far with our CO2 storage project Greensand, where we will get the first CO2 into the Danish underground early in the new year as part of our pilot demonstration project. Storing biogenic CO2 from biogas plants has great climate potential, as this results in negative emissions." "With this agreement, the partners will explore the possibility of establishing the entire value chain and capturing, transporting, and storing the first biogenic CO2 in Denmark," says Mads Weng Gade, Country Manager, INEOS Energy Denmark. CO2 transport  Initially, the aim is to capture up to 100,000 tonnes of biogenic CO2 annually from biogas plants in North Denmark starting in 2024/25. The CO2 will be transported to the Port of Hirtshals. From here, it will be shipped to the Siri area in the Danish part of the North Sea, where it will be stored in empty oil fields in Project Greensand. Storage and shipping of CO2 CEO Per Holm Nørgaard, Port of Hirtshals, points to the fact that the port's forthcoming expansion supports the plan to store and ship CO2 from Hirtshals, “We are already working on plans to expand the Port of Hirtshals, and storage and shipping of CO2 to the North Sea fits perfectly into our strategy." "In the long term, the establishment of a CO2 hub in Hirtshals can contribute to solving the climate changes, and we see great potential in this partnership.” Green hub The partnership will look for possibilities of establishing necessary infrastructure in the form of CO2 pipelines The long-term ambition is to significantly increase the amount of CO2 to be received for shipping and storage. To that end, the partnership will look into the possibilities of establishing the necessary infrastructure in the form of, e.g. pipelines for transporting CO2 from other parts of Denmark and Europe to Hirtshals potentially establishing Port of Hirtshals as a large, green hub for intermediate storage and shipping of CO2 for both Danish and foreign emitters. Harnessing the potential of economies of scale will support local industrial development and provide significant growth potential for the port and the region. CCS business model “Like Greensand, Greenport Scandinavia fits into our strategy to build significant international partnerships with CCS projects,” says Klaus Langemann, Senior Vice President of Carbon Management, and Hydrogen at Wintershall Dea. Klaus Langemann adds, "At Greenport Scandinavia, we want to bring in our experience along the whole value chain to establish a CCS business model with our strong Danish partners and support Europe’s climate targets."

Crews from Blue Water and Semco Maritime are in the process of preparing the vessel Aurora Storm, poised to take a key role in Project Greensand. Aurora Storm will transport special containers filled with CO2 safely from Belgium to the Nini West platform in the North Sea. It happens as part of the advanced pilot project in Project Greensand which aims to deliver a significant contribution to the green transition in Denmark. Rebuilding and upgrading Aurora Storm "In the coming weeks, we will work intensively on rebuilding and upgrading Aurora Storm, so we can safely transport the containers of liquid CO2 from Belgium to the Danish part of the North Sea without any problems." "We will install a grilling system on the vessel with the frame structure ensuring that the containers stay in their position on the vessel when we sail from Antwerp to the North Sea," says Søren G. Nielsen, Head of Chartering, Blue Water. Important experience in CO2 storage Piping and pumps are being added to the vessel enabling direct transmission of CO2 In addition to the so-called grilling system, the electrical systems on the Aurora Storm are also being upgraded. Piping and pumps are being added to the vessel enabling direct transmission of CO2 via the jack-up rig Noble Resolve from containers aboard the Nini West platform and then down into the sandstone reservoir 1,800 metres below the seafloor of the North Sea, where the CO2 is stored safely and permanently. Green transition "At Blue Water, we see great opportunities in Project Greensand. We are proud to be part of a project contributing to solutions in the green transition." "Capture and storage of CO2 give new perspectives regarding climate as well as business. It is a worthwhile project with strong business partners, and one of our goals is to gain important experience that can benefit Blue Water and Denmark in the future," says Søren G. Nielsen. Final pieces falling into place Aurora Storm is a Platform Supply Vessel with a strong Dynamic Positioning System. The system ensures that the vessel can keep its position stable at sea, also under the difficult weather conditions that may arise in the North Sea. "It is crucial for Project Greensand's pilot phase that we get the CO2 transported safely from Belgium to the North Sea. This allows us as the first in Europe to demonstrate the entire value chain in the capture and storage of CO2 to make a difference to the climate," says Søren R. Poulsen, Project Director of Project Greensand. CO2 storage  We can demonstrate that CO2 can be stored in Denmark and make a contribution to the green transition" "Aurora Storm is one of the last and most important pieces in the initial pilot phase in Project Greensand." Aurora Storm is berthed in Esbjerg for the next three to four weeks, after which the ship can sail towards Antwerp, where the containers with liquid CO2 are to be loaded. "We are of course very satisfied that Aurora Storm is now being prepared at the harbour in Esbjerg. With safety first being paramount, we can demonstrate that CO2 can be stored in Denmark and thereby make a significant contribution to the green transition," says Søren R. Poulsen. Upgrade and optimise While the preparation of Aurora Storm is in full swing, intensive work is also being done to inspect, upgrade and optimise the offshore rig Noble Resolve, which, like Aurora Storm, has arrived at the Port of Esbjerg. Employees from Semco Maritime, another consortium member of Project Greensand have selected and delivered equipment for both Aurora Storm and Noble Resolve, and they now play a key role in the preparation. CO2 designing solutions  "We are excited that Aurora Storm and Noble Resolve have arrived in Esbjerg so that we can continue the work with Project Greensand. We have put intense work into designing and developing solutions for storing CO2 in the North Sea." "We now enter the crucial phase where everything has to be installed before we can begin the work on the Nini field," says Anders Benfeldt, Senior Vice President for Oil & Gas at Semco Maritime. Project Greensand In 2025, Project Greensand is aiming to store up to 1.5 million tonnes of CO2 annually Thus, the final preparations on both vessel and offshore rig for Project Greensand are underway before Project Greensand is scheduled to store up CO2 in the North Sea around the turn of the year. Project Greensand is currently in the pilot phase where the storage process is developed, tested, demonstrated, and monitored. In 2025, Project Greensand is aiming to store up to 1.5 million tonnes of CO2 annually, and then up to 8 million tonnes of CO2 per year from 2030. About Project Greensand The consortium behind Project Greensand consists of 23 Danish and international companies and organisations that are working hard at delivering a significant contribution to the green transition. In December 2021, the EUDP awarded Project Greenland DKK 197 million to develop and demonstrate CO2 storage in the North Sea.

At Blue Water, they focus on creating customer solutions that enable minimization of carbon footprint from transport and logistics provided by them. “We aim to be our customers’ supplier and partner of choice. This includes offering and advising on solutions improving the sustainability and efficiency of the supply chain. Therefore, we are always searching for the best available solutions allowing CO2 reduction and matching our customers’ needs,” says Per Jakobsen, Business Development Manager, Sustainable Solutions. More sustainable alternatives Now, Blue Water can offer the customers a solution to replace fossil fuels from their transport with more sustainable alternatives through fuel switch in another supply chain. The fuel switch can be applied to all modes of transport. The solution is offered through the global supplier within this field, GoodShipping, who executes the actual fuel switch equalling the amount of CO2 that the customer wants to reduce. GoodShipping also issues a certificate verifying the customer’s purchase of alternative and greener fuels. Fair trade projects The CO2 emissions from the customer’s transport is calculated by Blue Water Carbon offsetting is another solution that they can now offer. This means that their customers can compensate for a specified amount of CO2 emissions from their supply chain by buying into environmental projects through Gold Standard. Projects include planting trees, solar and wind farm constriction as well as fair trade projects in developing countries. The CO2 emissions from the customer’s transport is calculated by Blue Water, following which Gold Standard on behalf of the customer invests in climate projects corresponding to the amount of CO2 to be compensated. Gold Standard provides the customer with a certificate verifying the carbon credit purchase. Other greener solutions They already offer a set of transport solutions designed to reduce CO2 emissions. These include their CO2 calculator, EcoTransit, that provides customers with CO2 data reporting and valuable insights into the carbon footprint from services provided by them. They also offer supply chain focusing on efficiency, utilization of load compartment and climate-smart solutions with lower CO2 impact.