Equinor, Horisont Energi to develop carbon capture project in Norway
19/05/2021 14:57
OSLO, May 19 (Reuters) - Norwegian carbon tech company
Horisont Energi HRGI-ME.OL and oil and gas group Equinor
EQNR.OL are to team up to develop a 100 million tonne carbon
capture and storage project in Norway's Arctic.
Carbon capture and storage has been cited by governments,
energy companies and industry as a key technology for curbing
CO2 pollution and reaching net-zero carbon emission targets, but
few commercial projects are currently in operation.
The two companies plan to create the Polaris carbon storage
facility in subsea rock formations off the coast of northern
Norway, Horisont Energi's chief executive Bjoergulf
Haukelidsaeter Eidesen told Reuters.
Polaris is part of the Barents Blue project, also in
northern Norway, for producing ammonia, which is widely used in
industrial processes, from natural gas cleansed of CO2.
Equinor and Horisont are joint owners of Polaris and Barents
Blue and expect a decision on the estimated 10 billion Norwegian
crowns ($1.21 billion) investment for the two projects at the
end of 2022, Haukelidsaeter Eidesen said.
Equinor has captured and stored 26 million tons of CO2 at
its Sleipner and Snoehvit oil and gas fields to date and is also
a partner in Norway's Northern Lights CO2 transport and storage
project. urn:newsml:reuters.com:*:nL8N2CX5IK
"The Polaris project will, if developed, further enhance
Norway's carbon transport and storage position," Horisont Energi
said in a statement.
($1 = 8.2929 Norwegian crowns)
(Reporting by Nora Buli. Editing by Jane Merriman)
((Nora.Buli@thomsonreuters.com; (+47) 21 04 05 56; Reuters
Messaging: nora.buli.thomsonreuters.com@reuters.net))