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Baker Hughes and Evida Partner to Advance CO2 Transport in Denmark
ZACKSยท 2025-07-08 13:31
Core Insights - Baker Hughes Company (BKR) has partnered with Denmark's state-owned gas distributor Evida to develop CO2 transport solutions in Denmark, supporting the country's carbon reduction goals [1][10] - The collaboration combines Baker Hughes' CO2 process equipment expertise with Evida's pipeline transport capabilities, focusing on scalable solutions for CO2 emitters [2][10] - Evida CO2 is preparing for initial pipeline connections in line with the Danish government's carbon capture and storage (CCS) tender timelines [4][10] Company and Industry Developments - The partnership is positioned to play a crucial role in establishing the CO2 transport infrastructure necessary for Denmark's decarbonization efforts [7] - Denmark's CCS market is gaining momentum, with the issuance of its first CO2 storage permit in late 2022 and the completion of the first CO2 injection into the North Sea in March 2023 [6] - The Danish Energy Agency has prequalified 10 companies for its CCS funding initiative, with final bids due by December 17, 2025, and contracts expected to be awarded in April 2026 [6]