KN Energies signs Grant Agreement with the European Commission

Core Points - The company AB KN Energies has signed a Grant Agreement with the European Commission for a CO2 terminal in Klaipėda, part of the CCS Baltic Consortium's carbon capture, transport, and storage initiative [1][3] - The European Commission will contribute over EUR 3 million for technical and commercial studies, co-financing 50% of the costs, with a Final Investment Decision expected by the end of 2027 and commercial operations starting in 2030 [2] Group 1 - The CCS Baltic Consortium aims to establish the first integrated carbon capture, transport, and storage value chain in the Baltic region, recognized as a Project of Common Interest by the European Commission [3] - The consortium, formed in 2022, includes multiple partners such as Akmenės Cementas AB and Mitsui O.S.K. Lines, and collaborates with gas transmission operators in Lithuania and Latvia for CO2 transportation assessments [4]