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05/15/2020 News

Historic investment decision for transport and storage of CO₂

Equinor, Shell and Total have decided to invest in the Northern Lights project in Norway's first exploitation licence for CO₂ storage on the Norwegian Continental Shelf. Plans for development and operation have been handed over to the Ministry of Petroleum and Energy. 

"The Northern Lights project could become the first step to develop a value chain for Carbon Capture and Storage (CCS), which is vital to reach the global climate goals of the Paris Agreement. Development of CCS projects will also represent new activities and industrial opportunities for Norwegian and European industries", says Anders Opedal, executive vice president for Technology, Projects & Drilling at Equinor. 

The investment decision is subject to final investment decision by Norwegian authorities and approval from the EFTA Surveillance Authority (ESA).