Neptune Energy – the international oil and gas company, has signed a memorandum of understanding (MoU) with Horisont Energi – the clean energy solutions provider, for the development of the Errai carbon capture and storage (CCS) project in Norway.
The Errai CCS project was initiated by Horisont Energi in 2021 with the idea to receive and store CO2 from European and domestic customers, including a planned CO2 terminal at the Port of Rotterdam.
It could store between 4 and 8 million tonnes of CO2 annually, with the potential to lock in more in later phases. The Errai carbon capture project includes an onshore terminal for intermediate CO2 storage, with further development planned to permanently store the CO2 in an offshore reservoir.
Neptune has decided to back the project and bring its subsurface and CCS experience to it. The company has conducted CO2 reinjection at the K12-B gas field in the Dutch North Sea for the last 14 years. It also partners in the Norwegian Snøhvit field, which has been reinjecting CO2 since 2008.
“We are delighted that Neptune Energy chose to work with us on this large-scale industrial CCS project. There is a growing demand for CO2 storage in the market. We believe that this project and our other CCS activities are essential for the net zero transition,” said Horisont CEO Bjørgulf Haukelidsæter Eidesen.
Horisont Energi is a carbon tech company, founded in 2019 and headquartered in Norway. It is positioned in the blue ammonia, and blue hydrogen production business and provides carbon transportation and storage services.
The leading project for the Horisont is Polaris or its first carbon storage work, located in the Barents Sea. Its capacity is estimated at above 100 million tonnes of storage.