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The Energy Ministry of Norway has initiated the sixth allocation process for exploring seabed acreage in the North…
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We have developed a system that provides good access to promising areas,” he was quoted as saying by Upstream.Relevant: Norway Makes Historic Vote In Favor Of Seabed MiningThe North Sea’s abundance of depleted oil and gas fields makes it particularly suitable for CO2 storage.Aasland highlighted Norway’s potential as a CO2 storage hub for Europe, emphasizing the dual benefit of emissions reduction and job creation.The government aims to establish storage capacity for 50 million tons of CO2 annually by the early 2030s, having already awarded licenses to 11 companies for a combined potential storage of 40 million tons per year.One of the country’s flagship CCS projects, Longship/Northern Lights, is slated for launch in early 2025.As part of the government’s full-scale CCS initiative Longship, Northern Lights, which is a joint venture of Equinor (NYSE: EQNR), Shell (LON: SHEL), and TotalEnergies (EPA: TTE), will transport and store CO2 captured from industrial sites in northern Europe.Read more: Yara And Northern Lights Collaborate On First Cross-Border Carbon Capture Project 0 0 0 carbon storage licensesnorwayoffshore carbon capture and storageLeave a Reply Cancel replyYour email address will not be published. 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