Coda Terminal

The Coda Terminal aspires to establish a cross-border CO2 transport and storage hub in Iceland. Liquefied CO2 carriers will import CO2 from several countries across North Europe starting from 2026 with 0,5 Mtpa. Τhe terminal will be upgraded gradually with its capacity to reach 3Mtpa by 2031.The imported CO2 will be initially stored into onshore tanks at the premises of the terminal and then by using a network of CO2 pipelines and nearby injection wells, will be permanently stored into the basaltic bedrock.
Project type:StorageTransport Participants:Carbfix Dan-Unity CO2 A/S Country:Iceland Type of capture:Not applicable IOGP members involved: No Planned start of operation: 2026 CO2 capacity at start date: 0.5 CO2 capacity after completion: 3 Status: Early Development Type of storage: Onshore - Basalt rock formations Funding and support scheme: Innovation Fund Info related to the funding and support scheme: Total investment is estimated to range from 250-300 million EUR. The European Innovation Fund is estimated to cover approximately one-third of the cost of the Coda Terminal. The remainder will be financed by external investors through participation in an SPV which has been established around the project. Notes: Links: