Norway's Polaris project secures commercial CO2 storage deals

The Norwegian company Horisont Energi developing the Polaris carbon capture and storage (CCS) project has signed several letters of intent with European companies on commercial CO₂ storage, it said on June 30, without identifying the firms.

Polaris serves as part of the Barents Blue project, which will also produce blue ammonia from natural gas in the Norwegian Barents Sea. Horisont signed a memorandum of understanding in March with Baker Hughes on developing and integrating technologies for the CCS project. In April, it also agreed to cooperation with shipping firm Knutsen on CO₂ transport and storage.

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"We see substantial and increasing demand for flexible and cost-effective carbon storage for the many CO₂ capture projects in Scandinavia and the rest of Europe," Horisont CEO Bjorgulf Haukelidsaeter Eidesen said. "We are happy to enable these CO₂ capture initiatives to reduce the overall climate impact from power plants and other industrial facilities."