REG-TotalEnergies SE TotalEnergies: Norway: Northern Lights Project Signs World's First Commercial Agreement on Cross-Border CO2 Transport and Storage

TotalEnergies SEAnnouncement

30/08/2022 07:00

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TotalEnergies: Norway: Northern Lights Project Signs World's First Commercial
Agreement on Cross-Border CO(2 )Transport and Storage

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the signature of a
commercial agreement between Northern Lights and Yara to transport and store
CO(2 )captured from Yara Sluiskil, an ammonia and fertilizer plant in the
Netherlands.

From early 2025, 800,000 tons of CO(2) per year will be captured, compressed,
and liquefied in the Netherlands and then transported to the Northern
Lights site to be permanently stored in geological layers some 2,600 meters
under the seabed off the coast of Øygarden, in Norway.

This agreement, the first of its kind worldwide, is a major milestone in the
decarbonization of heavy industry in Europe, paving the way for international
CO(2) transport and storage as a service. It sets a new standard for European
industrial companies looking to use Northern Lights solutions as part of
their decarbonization strategies.

"Developing CO(2) transportation and storage services is crucial for
decarbonizing European industry: we are pleased to welcome Yara as first
commercial partner for Northern Lights, which will help support its
decarbonization strategy," said Patrick Pouyanné, Chairman and Chief
Executive Officer of TotalEnergies. " TotalEnergies aims to develop a CO2
storage capacity of more than 10 million tons per year by 2030, both for its
own facilities and for its customers, in line with its ambition to get to net
zero by 2050, together with society."

"Yara, our first commercial customer, will fill the available capacity of
Northern Lights Phase 1. This agreement will establish a market for
CO(2) transport and storage. From early 2025, we will be shipping the first
tons of CO(2) from the Netherlands to Norway. This will demonstrate that CCS
is a climate tool for Europe," said Børre Jacobsen, Northern Lights Managing
Director.

"We urgently need to take action to decarbonize industry, and Yara is a
frontrunner in the field. I am very pleased to announce that we are now on our
way to removing CO(2) emissions from our production plant in Sluiskil. This
will take us a step closer to carbon-free food production and accelerate the
supply of clean ammonia for fuel and power production," said Svein Tore
Holsether, CEO of Yara International.

The Northern Lights Project

As the first project to create a cross-border value chain, Northern Lights is
designed to give European industrial companies a solution for safely and
permanently storing their CO(2) emissions underground. The Phase 1
installations are scheduled to come on stream in 2024, with the ability to
handle 1.5 million tons of CO(2) per year. Several industries have shown
growing interest in these services. As a result, additional capacity will be
developed to accommodate rising demand, up to 5 million tons per year.
Northern Lights is owned in equal shares by TotalEnergies, Equinor and Shell.

TotalEnergies and Carbon Capture and Storage (CCS)

TotalEnergies’ focus is first to avoid then to reduce its emissions by
developing and deploying a systematic approach, asset-by-asset, to implement
the best available technologies. In particular, the Company is developing
industrial projects for carbon capture, transport, and storage (CCS). Backed
by core competencies in large-scale project management, gas processing and
geosciences, TotalEnergies is on track to achieve its ambition of developing
storage capacity of 10 million metric tons of CO(2) per year by 2030 through
significant industrial projects such as Northern Lights in Norway and Aramis
in the Netherlands. Through all its CCS projects, the Company will reduce its
own emissions and those of its customers.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in more than 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TotalEnergies SE directly or
indirectly owns investments are separate legal entities. TotalEnergies SE has
no liability for their acts or omissions. The terms “Company” or
“TotalEnergies company” refer collectively to the company TotalEnergies SE
and the companies it controls directly or indirectly. Such terms are used
solely for the sake of convenience for purposes of the present communication.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them. This document may
contain forward-looking information and statements that are based on a number
of economic data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TotalEnergies SE nor any of its
subsidiaries assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this document
whether as a result of new information, future events or otherwise.

TotalEnergies 

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