Aker BP – а Norwegian oil and gas producer and Höegh LNG – a maritime energy infrastructure company, have entered into a strategic partnership to develop a fully comprehensive carbon transport and storage (CCS) offering for industrial CO2 emitters in the Norwegian Continental Shelf. The collaboration includes gathering, transporting and securely injecting CO2 for permanent storage in subsea reservoirs.
The two companies want to combine their respective expertise to deliver a large-scale, one-stop-shop CCS value chain to industrial emitters before 2030 and thus take part in the development of the carbon capture industry that is projected to grow rapidly in the decades ahead.
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Additionally, they aim to make it possible to offer cost-efficient solutions to smaller emitters that would otherwise not be able to develop solutions on their own.
The collaboration includes technical development of the solutions – Höegh LNG will focus on its concept of Floating CO2 Storage Units (FCSO) enabling purification and aggregating CO2 from multiple emitters in key export hubs.
The liquified CO2 will be transported by CO2 shuttle tankers at low pressure which results in larger transportation capacity and lower CO2 unit cost due to scale. Aker BP will lead the development of offshore injection facilities and identify suitable subsea reservoirs for CO2 storage.
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Commercial development is the second part of the agreement – Höegh LNG and Aker BP will work together to unlock potential new business opportunities for CO2 transportation and storage solutions and identify industrial emitters in North-West Europe.
“We expect CCS to play a key role in the transition to a low-carbon energy future. This partnership reflects our ambition to advancing CCS solutions by combining Aker BP’s strengths in subsurface understanding and large-scale project development with Höegh LNG’s technical expertise in the LNG sector” said Karl Johnny Hersvik, CEO of Aker BP.
