Following a historic vote in parliament, the Norwegian government announced its funding decision for the Northern Lights CO2 transport and storage project.
The funding decision demonstrates the Norwegian government’s support for the development of a Carbon Capture and Storage (CCS) value chain, which is essential if Europe is to achieve its carbon neutrality targets.
Northern Lights will be the first of its kind – an open and available infrastructure enabling transport of CO2 from industrial capture sites to a terminal in Øygarden for intermediate storage before being transported by pipeline for permanent storage in a reservoir 2600 meters under the seabed.
The project is the transport and storage component of Longship, the Norwegian government’s full-scale carbon capture and storage project.
Equinor CEO Anders Opedal, said: “Northern Lights is a true pioneering project and the first of its kind offering a solution to cut emissions from industrial sources in Norway and Europe. We are ready to start realising this project that will be an important part of the climate solution. I want to thank the Norwegian government and for the broad political support in making this a reality. I am certain that we together with our partners and suppliers will make this project a success.”
Equinor, Shell and Total made a conditional investment decision on the Northern Lights CO2 transport and storage project in May 2020. The project partners are now in the process of establishing a Joint Venture, (subject to merger clearance), which will be for all project activities, including business development.
The Northern Lights project includes the development and operation of CO2 transport and storage facilities, open to third parties. It will be the first ever cross-border, open-source CO2 transport and storage infrastructure network and offers European industrial emitters the opportunity to store their CO2 safely and permanently underground. Phase one of the project will be completed mid 2024 with a capacity of up to 1.5 million tonnes of CO2 per year.
For more information visit www.equinor.com
