The expansion of the Norwegian CO2 storage project Northern Lights has just been approved by the Ministry of Energy. The second phase of the project will increase the transport and storage capacity from 1.5 million tonnes to at least 5 million tonnes of CO2 per year. This is stated by the Norwegian Ministry of Energy in a statement.
- This is extremely important. We will not achieve our climate goals without large-scale CO2 management. The fact that Northern Lights has chosen to invest in an expansion on a purely commercial basis is a milestone in the climate fight and in the establishment of CO2 storage as a new Norwegian marine industry, says Terje Aasland, Minister of Energy in Norway.
The expansion includes, among other things, a new quay and additional storage tanks at the reception facility in Øygarden as well as an increase in pumping capacity. Offshore, the number of injection wells will be doubled from two to four. In connection with the investment decision for phase 2, Northern Lights has entered into an agreement with Stockholm Exergi to receive up to 0.9 million tonnes of CO2 annually. from a bioenergy plant in the Stockholm area.
- We now see the value of the state investing in green, immature technology at an early stage. If the authorities had not paved the way and invested in large-scale CO? storage on the continental shelf, we would not be here today. Now Norway can offer CO? storage to European companies with large point emissions – on commercial terms. This offers great opportunities, says Terje Aasland.
The investment in phase 2 amounts to 7.5 billion DKK, of which 131 million euros are supported by the EU. The rest is financed by the company itself without state support.
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