Norway plans carbon capture and storage scheme
The Norwegian government today outlined plans to launch an industrial-scale carbon capture and storage (CCS) Longship project in Norway that aims to reduce emissions and facilitate the development of new storage infrastructure and technologies.
The government submitted a Longship project white paper to parliament today, which highlights three specific projects it plans to support.
The total investments in Longship are estimated at 17.1bn kroner, while the operating costs for over a 10-year period is estimated around NKr8bn. The Norwegian government plans to contribute around NKr16.8bn funding, or just under 67pc of the total costs.
The first initiative is to implement carbon capture at cement manufacturing firm Norcem's factory in Brevik, southern Norway.
The Northern Lights transport and storage project owned by energy firms Equinor, Shell and Total was also included. Northern Lights aims to transport liquid CO2 from capture facilities in the Vestland county for storage in reservoirs under the seabed. The government would also support Finnish utility Fortum's Varme's waste incineration facility in Oslo on the condition that it also secures sufficient self-funding as well as funding from the EU or other sources.
"The [Longship] project has been matured to a level required for an investment decision, and the decision basis shows that all parts of the project are feasible," the Norwegian petroleum and energy ministry said.
The ministry was not available today to confirm when it expects to receive a final investment decision for the planned projects.
Norway aims to reduce domestic greenhouse gas emissions by 50-55pc by 2030 compared with 1990 levels.
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