Solution

Executive Summary

The purpose of this report is to present a strategic assessment of the Aramis Carbon Capture and Storage (CCS) Project, a large-scale industrial decarbonisation initiative developed through a partnership of leading energy companies and national infrastructure operators in the Netherlands. The project is designed to capture carbon dioxide emissions from industries with limited decarbonisation alternatives and safely store them in depleted offshore gas fields beneath the North Sea. Driven by tightening European climate regulations and ambitious national net-zero targets, Aramis is positioned as a technically credible, commercially viable, and operationally scalable solution for long-term emissions reduction. The report reviews the project’s technical design, business drivers, and competitive advantages, while also evaluating its financial, sustainability, and operational prospects.

Key findings of the report include:

• Significant environmental impact by targeting high-emission sectors and repurposing existing assets.
• Strong financial backing, including €639 million in government investment and alignment with EU climate policy incentives.
• Proven technical feasibility using established capture and offshore storage technologies.
• Strategic location in Rotterdam with access to existing offshore infrastructure.

As a result of these findings, the report recommends continuing with the project’s final investment decision in 2026. Additional recommendations include finalizing technical specifications, securing necessary permits, broadening emitter participation agreements, and pursuing available EU climate funding.

Contents

Introduction. 2

Background to the Project 2

Technical Importance. 4

Business Objectives. 6

Competitive Advantage. 6

Research and Development Maturity. 8

Potential 9

Financial 9

Sustainability. 10

Operational 10

Recommendations and Next Steps. 11

Conclusion. 11

References. 12

Figure 1: The Netherlands’ greenhouse gas emissions in million tonnes (Mt), 2005-2023. 3

Figure 2: Aramis Project Timeline. 4

Figure 3:Aramis Project main elements. 5

Figure 4:  EU Fit for 55 Framework. 7

Figure 5: Aramis technologies for carbon capture, transport, and geological storage. 8

Figure 6: Projected Annual Emissions Reduction in Netherlands in 2030. 10

Introduction

The Aramis Carbon Capture and Storage (CCS) Project represents a pioneering initiative in Europe’s energy transition strategy, targeting significant reductions in industrial CO₂ emissions. Developed by a Special Purpose Vehicle (SPV) involving key stakeholders such as TotalEnergies and Shell, the project aims to offer a scalable and sustainable decarbonisation solution for industries where reducing greenhouse gas (GHG) emissions is particularly challenging due to their high reliance on fossil fuels, long facility lifespans, and the need for significant capital investments to implement low-emission technologies. This assignment provides a strategic appraisal of Aramis, analysing its viability from financial, sustainability, and operational standpoints. In a landscape filled with competitive GHG-reduction technologies, this appraisal will assess whether the Aramis project offers a distinctive, investable advantage worthy of long-term commitment.

Background to the Project

The Aramis Carbon Capture and Storage (CCS) Project is a joint initiative by energy giants TotalEnergies, Shell, Energie Beheer Nederland (EBN), and Gasunie, aimed at supporting Europe’s net-zero ambitions (Aramis CCS, 2025a). It seeks to establish a large-scale, open-access CCS infrastructure that captures CO₂ from industrial sources and transports it through a pipeline to depleted gas fields in the North Sea, where it will be permanently stored. Meth-Cohn (2022) further explains that the project primarily targets sectors where reducing greenhouse gas (GHG) emissions is particularly challenging such as steel, cement, and chemicals industries where electrification or other low-carbon alternatives are not currently viable. For example, this challenge is witnessed in Netherlands, where the greenhouse gas emissions was 153.1 Mt as of 2023 (See Figure 1).

Figure 1: The Netherlands’ greenhouse gas emissions in million tonnes (Mt), 2005-2023

The project will operate as a Special Purpose Vehicle (SPV), separating its financial and operational risks from those of the parent companies while ensuring focused investment and governance (Energy Oil & Gas Asia, 2021). It complements existing CCS initiatives such as the Porthos project, but differs in scale, scope, and future capacity for expansion. Scheduled to be operational by 2028 (See Figure 2), Aramis is expected to initially handle 5 million tonnes of CO₂ per year, with the flexibility to scale up. According to Wright (2021), the project signifies a transformative approach in industrial decarbonisation, combining collaborative investment with long-term environmental and economic goals.

Figure 2: Aramis Project Timeline

Source: Aramis CCS (2025)

Technical Importance

The Aramis Carbon Capture and Storage (CCS) Project is technically significant due to its innovative, integrated infrastructure model designed to handle large-scale CO₂ emissions from hard-to-abate industries (Aramis CCS, 2025a). Unlike smaller, closed-loop CCS systems, Aramis is conceived as an open-access network, enabling multiple industrial emitters to connect to a centralised CO₂ transport and storage system. Aragón (2021) mentions that this modular and scalable design supports broad industry decarbonisation, aligning with long-term European climate objectives.

Technically, the project encompasses three core components: CO₂ capture at industrial sites, onshore pipeline transport to a compressor station and offshore terminal, and subsequent injection into depleted gas fields in the North Sea for permanent storage (See Figure 3).

Figure 3:Aramis Project main elements

Source: Aramis CCS (2025)

One of the most notable aspects is the repurposing and extension of existing gas infrastructure, such as offshore platforms and wells, to reduce cost and environmental impact (Aramis CCS, 2025a). This also accelerates project timelines by leveraging existing regulatory and technical knowledge.

The project’s reliance on proven technologies, such as amine-based capture methods and deep saline aquifer storage, ensures technical feasibility while reducing development risks (DGB Group, 2025). However, its innovation lies in the scale of integration, anticipated digital monitoring systems for safe injection, and flexibility to accommodate evolving carbon capture technologies.

Moreover, Aramis is designed with high safety standards and robust monitoring protocols, incorporating real-time data systems to detect potential leaks or system failures. As evidenced by Rao (2025), these features enhance its credibility among regulators and potential investors. From a technical perspective, Aramis stands out for its capability to combine established engineering solutions with system-wide innovation to address complex environmental challenges.

Business Objectives

The objectives of Aramis include;…..

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