Norway: Norway expects full carbon capture and storage by 2022

Byszheng

Updated Fri, 08 Jul 2016 14:13:05 GMT

The Ministry of oil and energy of Norway has announced that it expects to complete every step in the development of carbon capture and storage (CCS), i.e. capturing CO2 emissions from an industrial plant, transporting it by ship and injecting it into a depleted oil and gas reservoir in the North Sea, by 2022. Investment would range between Euro460m and Euro815m.

The source of the CO2 could be one or more of three companies currently developing CO2 capture technology. These are the HeidelbergCement-owned Norcem Brevik plant near Oslo, fertiliser maker Yara International and a waste incinerator operated by the Oslo city council.

Planning and investment for the whole chain could reach Euro0.77-1.35bn, with a 40% cost uncertainty. The government plans to present further CCS plans in the state budget in October 2016.