Block Energy Announces Carbon Sequestration Initiative

Block Energy Plc (GB:BLOE) has released an update.

Block Energy Plc has partnered with JSC Rustavi Azot to develop a Carbon Capture and Storage (CCS) project in Georgia, aiming to utilize the high-capacity Patardzeuli-Samgori Middle Eocene reservoir for long-term carbon sequestration. The MoU initiates the formation of joint teams to establish a pilot project for CO2 storage, leveraging technology that promises minimal leakage and contributes to significant carbon footprint reduction. The collaboration underscores both companies’ commitment to sustainability and capitalizes on the proximity of Block’s licenses to Rustavi Azot’s facilities, potentially making it one of Europe’s most cost-effective carbon sequestration projects.

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