The Northern Lights project has brought seven European companies to the table to cooperate on developing value chains for carbon capture and storage (CCS) technology.
The project, which forms part of Norway’s vision for delivering full-scale CCS, will provide transport infrastructure and permanent storage of CO2 in a reservoir in the northern part of the North Sea.
Equinor, on behalf of the project partners, has signed a memorandum of understanding (MoU) with Air Liquide, Arcelor Mittal, Ervia, Fortum Oyj, HeidelbergCement AG, Preem, and Stockholm Exergi; this paves the way for potential CO₂ handling at each of the companies’ premises linked to transport and storage provided by the Northern Lights project.
The MoU will allow for cooperation on evaluating solutions for CO₂ deliveries and transport, developing a timeline for investment, and CCS dialogue with national authorities and the European Union.
Eldar Sætre, president and CEO of Equinor, said: “Carbon capture and storage will be vital to reach the global climate goals of the Paris Agreement. Sustainable carbon capture and storage projects can only be developed in cooperation between governments and companies. We are therefore very pleased that the Northern Lights partners and leading European companies are taking the first steps to realise a European CO2 transport and storage system.”
Sverre Overå, project director for the Northern Lights project, added: “We are also cooperating with the authorities to establish a commercial framework enabling us to pursue the project.”
According to Equinor, binding commercial agreements will depend on positive investment decisions for Northern Lights, which is aiming for a final investment decision in 2020, and other third-party projects.
The Northern Lights partnership, which includes Equinor, Total and Shell, plans to drill a confirmation well in the Johansen formation at the end of 2019 in order to study the reservoir’s suitability and capacity for CO₂ storage.
Northern Lights is a founder member of the CCUS Projects Network