Norwegian CCS project is awarded EUR2.1bn
The full-scale carbon capture and storage (CCS) project in Norway has been awarded EUR2.1bn from the European Free Trade Association (EFTA) Surveillance Authority (ESA).
By supporting the project, the Norwegian government aims to scale up CCS and share its knowledge and experience. The approved project will allow for the establishment of carbon capture facilities at Norcem's (HeidelbergCement) Brevik cement factory as well as at Fortum Oslo Varme, a waste-to-energy plant.
The CCS project aims to be the first of its kind to go live in Europe and to transport captured CO2 deep below the North Sea. This part of the project known as the Northern Lights is being carried out by Shell, Total and Equinor.
The project has a budget of EUR2.57bn to cover construction and the first 10 years of operation. Norway's government will cover about 80 per cent of the project's estimated budget.
