Norway's CO2 seabed storage project gets boost from industry, EU

Norway’s Equinor signed preliminary agreements on Thursday with seven potential industrial customers for its project to develop carbon dioxide storage under the North Sea. The project, called Northern Lights and led by Equinor in partnership with Shell and Total, is part of the country’s efforts to combat climate change. The world’s leading metal producer ArcelorMittal, cement producer Heidelberg Cement, Sweden’s largest, privately-owned refiner Preem are among the firms who signed the memorandums of understanding. The Norwegian government said the industry’s commitment would be crucial for it to decide on whether to invest in the project, which aims at capturing and storing up to 5 million tonnes of CO2 from various industrial sites onshore. So far, Norway has spent 825 million Norwegian crowns to develop the full-scale CCS project, which also involves building carbon capture facilities at onshore industrial sites in Norway.

- Reuters -



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