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The Norwegian authorities obtained an expression of curiosity from power firms excited about storing carbon dioxide offshore. Image courtesy of Norwegian power firm Equinor
Members of the British royal household had been briefed on developments on the Northern Lights CCS mission within the North Sea. Photo courtesy of Northern Lights
March 6 (UPI) — There’s sturdy curiosity from a number of the greatest power firms on the planet to retailer greenhouse gases in geopolitical formations within the North Sea, the Norwegian authorities stated Monday.
Five firms, all both Norwegian or Norwegian divisions of European firms, submitted applications to Norway’s Ministry of Petroleum and Energy to retailer carbon dioxide, a potent greenhouse gasoline, in Norwegian waters of the North Sea.
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“It is gratifying to see the great interest in CO2 storage on the Norwegian shelf,” power minister Terje Aasland stated. “The fact that we regularly receive applications to announce areas and to store CO2 in these areas shows that our allocation policy is working as intended.”
Carbon seize and storage know-how is an evolving part of the pursuit of a net-zero economic system. In 2021, through the grips of the COVID-19 pandemic, U.S. supermajor Chevron and 10 different firms expressed curiosity in creating large-scale carbon seize and storage (CCS) know-how within the Houston space.
If constructed, the businesses behind the mission stated it might seize as a lot as 50 million metric tons of CO2 per 12 months by 2030.
Norway is forward of the sport. Norwegian power firm Equinor joined Shell and TotalEnergies in 2018 in agreeing on the Northern Lights carbon storage facility within the North Sea, which got here because of Norway’s first-ever license for offshore carbon storage.
The nation’s power regulator believes the North Sea has the potential to retailer greater than 80 billion tons of CO2, which is the equal of 1,000 years price of Norwegian emissions.
Representatives last week briefed the British royal household on Northern Lights developments.
“Norway and U.K. have a lot in common,” Borre Jacobson, the managing director of Northern Lights, stated. “Representing the largest storage potential of CO2 in Europe, together we can pave the way for decarbonization of European hard-to-abate industries. Northern Lights are committed to continue the collaboration with our peers in the U.K.”
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