EU backs cross-border CO2 transport and storage project with €223 million

Aker BP

Aker BP and Höegh Evi have actually protected EUR223 million from the European Union Innovation Fund for a massive CO2 transportation and storage( CCS) job that will completely save CO2 on the Norwegian Continental Shelf(NCS)from European market.

The Atlas task, which integrates local CO2 aggregation, massive low-pressure maritime transportation and overseas storage, has a style capability of 6 million lots of CO2 each year, with prospective to broaden beyond 10 million loads as the European CCS market establishes.

Validated as an EU Project of Mutual Interest(PMI 13.17)this April, being acknowledged as cross-border European CO2 facilities, the job has actually finished the expediency stage and advanced into the Select stage, targeting a last financial investment choice (FID) in 2028 and very first injection from 2031.

“Atlas demonstrates how regional aggregation and large-scale low-pressure shipping can efficiently connect industrial regions to permanent CO₂ storage. This flexible maritime model can expand as the European CCS market develops,” stated Nils Jakob HasleEVP Clean Energy at Höegh Evi.

According to Höegh Evi, CO2 will be aggregated at local export centers near to commercial clusters and carried by devoted providers to the Atlas storage website in the Norwegian North Sea.

The CO2 will be injected through subsea facilities into a saline aquifer for storage more than 2,000 meters listed below the seabed at the storage website situated in the Aker BP-operated EXL011 (80% Aker BP, 20% ORLEN Upstream Norway).

“Europe needs safe and cost-effective permanent CO₂ storage. Atlas is designed to provide European industries with significant storage capacity on the Norwegian Continental Shelf and capture economies of scale needed to reduce CCS value chain costs,” stated Ørjan JentoftCCS Asset Manager at Aker BP.

Follow Offshore Energy on: