BRIEF

on TOTALENERGIES (EPA:TTE)

Norway: Northern Lights Facilities Completed and Ready to Store CO2

Stock price chart of TOTALENERGIES (EPA:TTE) showing fluctuations.

TotalEnergies, in partnership with Equinor and Shell, has announced the completion of the Northern Lights CO2 receiving and storage facilities in Norway. The completed infrastructure includes a terminal for receiving CO2 cargos, a 100 km subsea pipeline, and injection facilities for permanent CO2 storage.

Northern Lights is prepared to receive CO2 from European industries, with the first injection projected for 2025. As the world's first commercial CO2 transportation and storage project, it aims to offer a decarbonization solution for hard-to-abate industrial emissions.

The first phase of the project, supported by the Norwegian government, has a capacity of 1.5 Mt CO2/year, fully booked by customers in Norway and Continental Europe. Expansion studies are ongoing for the project's second phase, potentially increasing its capacity to over 5 Mt CO2/year.

Tim Heijn, Managing Director of Northern Lights JV, emphasized the project's global significance for CCS development. Arnaud Le Foll of TotalEnergies highlighted its role in European industrial decarbonization. Equinor and Shell representatives echoed the project's importance in achieving climate goals.

R. P.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all TOTALENERGIES news