Greece is advancing a major national initiative for carbon capture and storage (CCS), rolling out a comprehensive CO2 management pipeline network backed by up to $4.2 billion in total public and private investments. 

The ambitious national plan aims to link the country's heavy-emitting industries with secure, long-term offshore storage sites beneath the Aegean Sea.

A critical first step in establishing the network is the development of Greece’s debut offshore CO2 storage facility near Kavala, for which Energean subsidiary EnEarth has already issued a tender for drilling two wells at the Prinos site. 

This is part of a $1.4 billion project that has secured $313 million from the European Union Innovation Fund. The initial drilling is expected to begin in early 2026, pending final environmental and permitting approvals from the Ministry of Environment and Energy.

Greece's essential infrastructure for capturing and transporting the CO2 will be managed by DESFA, Greece’s gas network operator, through its ApolloCO2 project. This system is designed to capture, liquefy, and transport industrial emissions to the Prinos site for permanent geological storage. 

The project, which represents an initial investment of about $810 million, has received a substantial $195 million grant from the EU Innovation Fund.

ApolloCO2 will connect several of the country’s major emitters, including three large, EU-funded capture initiatives: Heracles Group (Holcim)’s $463 million Olympus project in Milaki, Titan Cement’s $676 million Ifestos project in Boeotia, and Motor Oil Hellas’s IRIS project, valued between $347 million and $463 million, integrating carbon capture with low-carbon hydrogen production. 

DESFA is also planning a 35-kilometer (22-mile) CO2 pipeline to link refineries and industrial centers. Together, these efforts signal Greece’s emergence as a key regional CCS player, positioned to serve both domestic and potentially overseas customers in the coming decade.