Eight Companies Seek Norwegian Govt Approval For Offshore CO2 Storage Permits

Eight Oil Majors Seek Norwegian Govt Approval For Offshore CO2 Storage Permits - Carbon Herald

Eight prominent companies, including leading oil and gas producers in Norway, have submitted requests to the Norwegian authorities to explore carbon dioxide (CO2) storage beneath the North Sea waters, Upstream Online has reported.

The list of applicants includes Aker BP, Equinor Low Carbon Solutions, Lime Petroleum, Northern Lights, OMV, PGNiG, Vaar Energi and Wintershall Dea.

The contenders are vying for approval in response to the Norwegian Energy Ministry’s latest call for exploration permits—a part of the ongoing sixth licensing round—for CO2 storage exploration activities on the Norwegian continental shelf.

This initiative, unveiled earlier this year, targets the allocation of exploration permits in two designated areas of the Norwegian North Sea.

Relevant: Norway Launches Sixth Licensing Round For Offshore CO2 Storage

Northern Lights stands out as a collaborative venture established in 2021 by Equinor (NYSE: EQNR), Shell (LON: SHEL), and TotalEnergies (EPA: TTE), with the aim of creating a comprehensive value chain for the transportation and storage of industrial emissions.

The project anticipates readiness to accept initial CO2 volumes this year, with full-scale operations slated for 2025.

“Norway is at the forefront of efforts to promote commercial CO2 storage. By streamlining the process for storage permits, we reinforces our commitment to fostering climate-friendly initiatives both domestically and internationally,” said Energy Minister Terje Aasland.

The issued licenses will confer exploration rights to assess reservoir suitability for CO2 injection and storage.

The authority anticipates announcing the recipients of exploration licenses from the current round in the second half of the year.

Read more: Private: Belgium Signs CCS Agreement With Norway

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