Statoil, Shell and Total have signed a CO2 storage partnership agreement aiming to mature the development of carbon storage on the Norwegian continental shelf (NCS)
The objective for the project is to stimulate necessary development of CCS so the long-term climate targets in Norway and the EU can be reached, said Total in a statement.
In June 2017, Gassnova awarded Statoil the contract for the first phase of the project. Norske Shell and Total E&P Norge are the equal partners while Statoil will lead the project. All the partners will contribute people, experience and financial support for the project’s development.
The first phase of this CO2 project is aiming to reach a capacity of approximately 1.5MT per year. In addition, the project will be designed to accommodate additional CO2 volumes, aiming to stimulate new commercial carbon capture projects in Norway, Europe and across the world. In this way, the project has the potential to be the first storage project site in the world receiving CO2 from industrial sources in several countries.
“Without carbon capture and storage, it is not realistic to meet the global climate target as defined in the Paris Agreement. A massive scale up of number of CCS projects is needed and collaboration and sharing of knowledge are essential to accelerating the development,” said Irene Rummelhoff, executive vice-president for new energy solutions at Statoil.
“Shell sees CCS as a transformative technology that can significantly reduce emissions from those industrial sectors that will continue to rely on hydrocarbons for decades to come,” stated Monika Hausenblas, executive vice-president for environment and safety of Shell.
Philippe Sauquet, president of gas, renewable and power and strategy-innovation at Total, commented, “The aim of this first integrated industrial-scale project, supported by the Norwegian Government, is to develop viable, reproducible commercial CCUS model in view of carrying out other major projects around the world.”
