Wintershall buys into Poseidon CCS project

German independent expands UK CCS portfolio with purchase of 10% stake in Southern North Sea project from Carbon Catalyst

German independent energy company Wintershall Dea has expanded its UK CCS portfolio by acquiring a 10% stake in the Poseidon project in eastern England from developer Carbon Catalyst. The terms of the deal were not disclosed. Poseidon is scheduled to be operational by 2029 and is expected to have a total storage capacity of up to 40mt/yr, once fully developed. It has a carbon storage licence for an area in the UK Southern North Sea which covers the geological structures of the Leman gas field and offers a combination of depleted reservoirs and saline aquifers. The licence was awarded to French-owned independent oil and gas producer Perenco and Carbon Catalyst via the UK’s first CO₂ storage l