Equinor signs Europe-wide MoUs for CCS project off Norway's coast
Map of possible CO2 storage sites off Norwegian coast. Image by Government of Norway (www.regjeringen.no)
Norway’s Equinor ASA (NYSE:EQNR) has signed memoranda of understanding (MoUs) with seven European companies seeking collaboration on the Northern Lights carbon capture and storage (CCS) project on the Norwegian continental shelf (NCS).
The Norwegian energy multinational said Thursday that Air Liquide SA (EPA:AI), ArcelorMittal SA (NYSE:MT), Ervia, Fortum Oyj (HEL:FORTUM), HeidelbergCement AG (ETR:HEI), Preem and Stockholm Exergi AB put their signatures on the MoUs to cooperate on possible carbon dioxide (CO2) handling at third party’s premises and on transport to the Northern Lights site.
Equinor has partnered with Royal Dutch Shell Plc (AMS:RDSA) and Total SA (EPA:FP) to study the possibilities for developing CO2 storage at the continental shelf off the coast of Norway. The Northern Lights project will entail transport, reception and permanent storage of CO2 in a reservoir in the northern part of the North Sea.
The partners are planning to take an investment decision on the project in 2020.
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