Horisont Energi, PGNiG Upstream Norway to develop CO2 storage project

Norwegian company Horisont Energi and PGNiG Upstream Norway (PUN) have signed a Letter of Intent (LoI) whereby PUN will become a partner and operator in the Polaris CO2 storage project in the Barents Sea, Horisont announced on September 5.

The Polaris project is a key part of Horisont Energi's plans to develop a clean ammonia production facility in northern Norway. The plant will use renewable energy to produce ammonia, which can be used as a fuel or as a fertilizer. The CO2 produced by the ammonia plant will be captured and stored in the Polaris project.

The Polaris CO2 storage project is expected to be operational by 2025. The project has the potential to store up to 10mn tonnes/year of CO2, which would make it one of the largest CO2 storage projects in Norway.

The planning of the Polaris CO2 storage started in February 2020 and, upon application to the authorities, was formally awarded in June 2022. The Polaris licence is expected to provide the necessary storage capacity for Barents Blue, with additional storage capacity expected for other CO2 customers in Norway and Europe.