Northern Lights and Yara sign the world’s first commercial agreement on cross border CO2 transportation and storage

"This is a major milestone for the development of carbon capture, transport and storage. With the first commercial agreement for transportation and storage of CO₂, we open a value chain that is critical for the world to reach net zero by 2050. Together with our partners, we are building infrastructure to decarbonise industry and energy, securing industrial activity and jobs in a low carbon future," says Anders Opedal, CEO and president of Equinor.

From early 2025, 800 000 t of CO₂ will be captured, compressed and liquefied in the Netherlands, and then transported by ship to the terminal for storages at 2600 m under the seabed on the Norwegian continental shelf.

There is significant storage capacity on the Norwegian continental shelf, where Equinor and partners have decades of experience from CO₂ capture and storage at the Sleipner and Snøhvit fields. Large-scale CO₂ capture from industries and storage of CO₂ safely under the seabed, will enable the decarbonisation of hard to abate existing industries, that emits CO₂ as part of their processes.

"With this commercial agreement, we are passing a major milestone in the development of a value chain for carbon capture, transport and storage. We experience an increased demand for this service, particularly from large industrial clusters on the European continent. Capture, transport and storage of CO₂ is also a prerequisite to produce blue hydrogen and ammonia. These products can eliminate emissions in several energy sectors and act as low carbon feedstock in many industries, says Irene Rummelhoff, executive vice president for Marketing, midstream and processing in Equinor.

With the volumes from Yara, phase 1 has reached full capacity and Northern Light JV is now working to mature phase 2 for final investment decision increasing the total capacity to 5-6 million tonnes CO₂ per year.

Equinor will continue to work together with the Government and partners to develop the Norwegian continental shelf further as an important energy hub for the future, building on the advantages and experience from decades of hydrocarbon exploration and production on the Norwegian continental shelf.

Read the article online at: https://www.worldfertilizer.com/environment/30082022/northern-lights-and-yara-sign-the-worlds-first-commercial-agreement-on-cross-border-co2-transportation-and-storage/