Equinor and Fluxys plan European pipeline to CO2 storage sites

Fluxys Belgium SA

29/06/2022 08:09

OSLO, June 29 (Reuters) - Norway's Equinor  EQNR.OL  and
Belgium's Fluxys  FLUX.BR  plan to build a 1,000-km (620-mile)
pipeline to transport CO2 captured on the European continent for
storage underneath the North Sea, the two companies said on
Wednesday.
    The infrastructure project, which faces a final investment
decision by 2025 and could be operational by the end of this
decade, would help reduce emissions of climate-warming gases in
north-west Europe, the firms said in a joint statement.
    "The offshore pipeline is planned to have a transport
capacity of 20 million to 40 million tonnes of CO2 per annum,
meeting an emerging need for CCS (carbon capture and storage)
from multiple European industrial players," they added.
    Fluxys is a major gas pipeline operator while oil and gas
producer Equinor is developing CCS deposits offshore Norway for
commercial use.
    Interest in CCS has been rising in recent years, with the
technology seen as important to delivering net zero emissions
targeted by government around the globe.

 (Reporting by Terje Solsvik, editing by Gwladys Fouche)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70))