CO2 Storage Potential of Basaltic Rocks Offshore Iceland

Injection of CO2 into basaltic formations provides significant benefits including permanent storage by mineralisation and large storage volume. The largest geological storage potential lies offshore and in the case of basalt, along the mid-oceanic ridges where CO2 could be stored as carbonate minerals for thousands of years. Most of the bedrock, both on land and offshore Iceland consists of basalt that could theoretically be used for injection of CO2, fully dissolved in water. The most feasible formations are the youngest formations located within the active rift zone. It is estimated that up to 7000 GtCO2 could be stored offshore Iceland within the Exclusive Economic Zone. Site specific geological research and pilot studies are required for refining the concept and offshore pilot scale projects should be considered as the next steps in evolving the method.