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OSLO - TotalEnergies (EPA:TTEF) SE (Paris:TTE) (LSE:TTE) (NYSE:TTE), along with its partners Equinor and Shell, has announced the Final Investment Decision (FID) for the second phase of the Northern Lights carbon capture and storage (CCS) project. This phase will expand the project’s CO2 transport and storage capacity from 1.5 million to over 5 million tons per year, starting in 2028.
The first phase of Northern Lights is set to commence operations this summer, with the inaugural CO2 shipment from Heidelberg (ETR:HDDG) Materials’ cement factory in Brevik, Norway. The CO2 will be transported by ship and stored in a reservoir beneath the seabed off the coast of Øygarden, western Norway.
The expansion, representing an investment of approximately NOK 7.5 billion (~$700 million), will include new onshore storage tanks, pumps, a jetty, injection wells, and transport vessels. The infrastructure is expected to be operational by the second half of 2028.
The second phase follows a 15-year commercial agreement with Stockholm Exergi, marking the fifth company to commit to the transport and storage of CO2 emissions with Northern Lights, after Heidelberg Materials and Celsio in Norway, Yara in the Netherlands, and Ørsted in Denmark. Discussions are ongoing with other potential European industrial customers to utilize the remaining storage capacity.
Nicolas Terraz, President of Exploration & Production at TotalEnergies, expressed enthusiasm for the project’s progression, emphasizing its significance for hard-to-abate industrial emitters in Europe. Tim Heijn, Managing Director of Northern Lights JV, highlighted the expansion as a pivotal step in establishing a commercially viable CCS market in Europe.
Northern Lights, the first company to offer commercial CCS services, is part of Norway’s Longship CCS project and aims to enable the reduction and removal of industrial emissions in Europe.
TotalEnergies is actively involved in carbon storage projects worldwide, leveraging its expertise in project management, gas processing, and geosciences to support the decarbonization of industries with significant emissions. The company is dedicated to providing energy that is reliable, affordable, and sustainable, with sustainability at the core of its strategy.
This news is based on a press release statement from TotalEnergies.
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