- Dutch government steps in with €639M to secure future of nation’s largest carbon storage project.
- Shell and Total exit pipeline funding amid weakening EU climate ambitions, remain involved in storage operations.
- Aramis project aims for 22M tons annual capacity by 2030 to help hit national CO₂ reduction goals.
The Dutch government will invest €639 million ($726 million) into the Aramis carbon capture and storage (CCS) project after Shell and TotalEnergies withdrew from funding the pipeline infrastructure.
Their exit marks a broader trend among European energy majors, many of which are scaling back renewable targets to stay competitive with U.S. peers focused on oil and gas. Despite this, both companies will remain involved in developing the storage facilities and offering CCS services.
“This takes away a large part of the risk in the project,” said Climate Minister Sophie Hermans, referring to the state stepping in to support the two remaining stakeholders: state-owned energy firm EBN and Dutch gas grid operator Gasunie.
The pipeline system is a critical part of the Aramis project, which will connect industrial CO₂ emitters to storage sites beneath the North Sea. With a planned annual capacity of 22 million tons, Aramis is positioned to become a key pillar in the Netherlands’ decarbonization strategy.
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A final investment decision is due in 2026, and operations are expected by 2030—timed to support the country’s goal of cutting CO₂ emissions 55% below 1990 levels by the end of the decade. Emissions were 37% lower as of last year, though climate advisers have flagged that current policy is insufficient to close the gap.
To accelerate its progress, the government also announced an €8 billion subsidy package for sustainable energy projects and new incentives for electric vehicles. Industrial players will receive compensation to offset high energy prices.
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