Neptune Energy and partners awarded CO2 storage license
November 15, 2023
BY Neptune Energy
Neptune Energy welcomed the award of a CO2 storage licence in the Norwegian North Sea, in partnership with Sval Energi and Storegga.
The Norwegian Ministry of Petroleum and Energy has awarded the Trudvang carbon storage licence to Sval which will partner with Neptune and Storegga. The Trudvang area has the potential to store up to nine million tonnes of CO2 annually for at least 25 years – a total of 225 million tons – with analysis indicating the storage potential could be even higher.
Neptune Energy’s Managing Director in Norway and the UK, Odin Estensen, said: "We are pleased to secure our first CO2 storage licence in Norway. The North Sea has great potential to become a hub for carbon storage, given the proximity to CO2 emitters and the geology which is suitable for CO2 storage.
“Neptune Energy was recently awarded three CO2 storage licences in the UK and we continue to progress our L10 carbon storage project in the Netherlands. Our ambition is to build a portfolio of carbon stores linked to our core areas in the North Sea.”
Advertisement
The Trudvang storage licence is located in the Norwegian North Sea, to the east of the Sleipner field and about 200 kilometres from the coast.
The storage reservoir is at a depth of approximately 850 metres, in the Utsira formation.
Advertisement
Related Stories
AtmosClear BR, LLC, a portfolio company of Fidelis, announced that it has signed a contract with Microsoft for 6.75 million metric tons of engineered carbon removal over 15 years from bioenergy carbon capture & storage ("BECCS"). The deal is the world's largest for permanent carbon removal to date.
Mitsubishi Heavy Industries, Ltd. (MHI) announced the signature of a study with Single Buoy Moorings Inc., the subsidiary of SBM Offshore, for the application of CO2 capture modules on future Floating Production Storage and Offloading vessels (FPSOs) for Petrobras. This study will be conducted toward typical implementation of CO2 capture solutions for FPSOs.
The Viking CCS Pipeline application has been granted development consent by the Secretary of State for Energy Security and Net Zero. The project comprises a new 55 km onshore underground pipeline from the point of receipt of dense phase CO2 at Immingham.
Cory and Imperial College London (Imperial) have announced a new partnership to drive innovation in carbon capture and storage (CCS) technology. The collaboration will leverage the expertise of Cory, a leader in waste management and recycling, and Imperial, a world-leading university which is home to the UK’s largest CCS research program, led by the Department of Chemical Engineering.
Occidental and its subsidiary 1PointFive announced that the U.S Environmental Protection Agency approved its Class VI permits to sequester carbon dioxide (CO2) captured from STRATOS when the world’s largest Direct Air Capture (DAC) facility begins operating in Ector County, Texas.
Upcoming Events
