The Netherlands is injecting €639 million into the Aramis carbon capture and storage (CCS) project to ensure its progress after Shell and TotalEnergies withdrew funding for the pipeline infrastructure. While both companies will continue to support the development of the CO₂ storage facilities, their exit reflects a broader trend of European energy majors dialing back climate investments amid shifting global market dynamics.
The funding shift places greater responsibility on the remaining partners—state-owned EBN and Dutch gas grid operator Gasunie—to deliver the pipeline system that will link industrial CO₂ emitters to offshore storage sites in the North Sea. Designed with a planned annual capacity of 22 million tons by 2030, Aramis is expected to play a central role in helping the Netherlands achieve its emissions reduction target of 55% below 1990 levels by decade’s end.
“This takes away a large part of the risk in the project,” said Climate Minister Sophie Hermans, highlighting the significance of government support in maintaining momentum.
A final investment decision is anticipated in 2026, with operations set to begin in 2030. To further boost decarbonization efforts, the Dutch government has also introduced an €8 billion subsidy package for clean energy initiatives, expanded electric vehicle incentives, and compensation for industrial energy costs.
