TotalEnergies: Norway: Northern Lights Project Signs World's First Commercial Agreement on Cross-Border CO2 Transport and Storage
29 Agosto 2022 - 3:00AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the
signature of a commercial agreement between Northern Lights and
Yara to transport and store CO2 captured from Yara Sluiskil, an
ammonia and fertilizer plant in the Netherlands.
From early 2025, 800,000 tons of CO2 per year will be captured,
compressed, and liquefied in the Netherlands and then transported
to the Northern Lights site to be permanently stored in geological
layers some 2,600 meters under the seabed off the coast of
Øygarden, in Norway.
This agreement, the first of its kind worldwide, is a major
milestone in the decarbonization of heavy industry in Europe,
paving the way for international CO2 transport and storage as a
service. It sets a new standard for European industrial companies
looking to use Northern Lights solutions as part of their
decarbonization strategies.
"Developing CO2 transportation and storage services is crucial
for decarbonizing European industry: we are pleased to welcome Yara
as first commercial partner for Northern Lights, which will help
support its decarbonization strategy," said Patrick Pouyanné,
Chairman and Chief Executive Officer of TotalEnergies. "
TotalEnergies aims to develop a CO2 storage capacity of more than
10 million tons per year by 2030, both for its own facilities and
for its customers, in line with its ambition to get to net zero by
2050, together with society."
"Yara, our first commercial customer, will fill the available
capacity of Northern Lights Phase 1. This agreement will establish
a market for CO2 transport and storage. From early 2025, we will be
shipping the first tons of CO2 from the Netherlands to Norway. This
will demonstrate that CCS is a climate tool for Europe," said
Børre Jacobsen, Northern Lights Managing Director.
"We urgently need to take action to decarbonize industry, and
Yara is a frontrunner in the field. I am very pleased to announce
that we are now on our way to removing CO2 emissions from our
production plant in Sluiskil. This will take us a step closer to
carbon-free food production and accelerate the supply of clean
ammonia for fuel and power production," said Svein Tore
Holsether, CEO of Yara International.
The Northern Lights Project
As the first project to create a cross-border value chain,
Northern Lights is designed to give European industrial companies a
solution for safely and permanently storing their CO2 emissions
underground. The Phase 1 installations are scheduled to come on
stream in 2024, with the ability to handle 1.5 million tons of CO2
per year. Several industries have shown growing interest in these
services. As a result, additional capacity will be developed to
accommodate rising demand, up to 5 million tons per year. Northern
Lights is owned in equal shares by TotalEnergies, Equinor and
Shell.
TotalEnergies and Carbon Capture and Storage (CCS)
TotalEnergies’ focus is first to avoid then to reduce its
emissions by developing and deploying a systematic approach,
asset-by-asset, to implement the best available technologies. In
particular, the Company is developing industrial projects for
carbon capture, transport, and storage (CCS). Backed by core
competencies in large-scale project management, gas processing and
geosciences, TotalEnergies is on track to achieve its ambition of
developing storage capacity of 10 million metric tons of CO2 per
year by 2030 through significant industrial projects such as
Northern Lights in Norway and Aramis in the Netherlands. Through
all its CCS projects, the Company will reduce its own emissions and
those of its customers.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
@TotalEnergies TotalEnergies TotalEnergies
TotalEnergies
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