World first CO2 storage service soon ready in Norway

Norway has inaugurated a terminal for the Northern Lights project, a significant step towards commercializing carbon dioxide (CO2) transport and storage. The project aims to capture CO2 emissions from European factory smokestacks and inject them into undersea geological reservoirs, preventing their release into the atmosphere and combating climate change. The terminal, located on the North Sea island of Oygarden, features 12 storage tanks and a 110-kilometre pipeline for transporting the liquified CO2. The facility, a joint venture between oil giants Equinor, Shell, and TotalEnergies, is expected to begin its first CO2 deliveries in 2025, with an initial capacity of 1.5 million tonnes per year. Despite the project s potential to reduce CO2 emissions, it faces challenges such as high costs and skepticism from environmentalists. The Norwegian government has financed 80% of the total cost, while the Longship scheme has provided 20 billion kroner. However, the project s success depends on sufficient emitters choosing to invest in this technology. The Northern Lights project has also secured its first commercial cross-border contracts with Yara and Orsted, aiming to bury CO2 from an ammonia plant in the Netherlands and two biomass power stations in Denmark. Despite the project s potential benefits, some environmentalists, like Greenpeace Norway s head, Frode Pleym, argue that it is a form of greenwashing by oil companies seeking to continue pumping oil and gas. The Norwegian Energy Minister, Terje Aasland, counters that failing to meet climate challenges or shutting down industries is not desirable. In summary, the Northern Lights project represents a crucial step towards commercializing CO2 transport and storage, with the potential to significantly reduce emissions. However, it faces challenges such as high costs, skepticism from environmentalists, and the need for sufficient emitters to invest in the technology.

Source: terradaily.com
Published on 2024-09-26