Storegga, Svali team up for Norwegian CCS
UK carbon storage developer Storegga has teamed up with Norwegian oil producer Svali to look at options for creating storage sites on the Norwegian shelf, the companies said on November 24.
The pair have agreed to establish a common platform to secure CO2 storage licences. Storegga is already involved in other CO2 storage projects, including the Acorn carbon capture and storage (CCS) development in Scotland, whereas Svali will bring to the partnership its subsurface knowledge of the shelf.
"We look forward to building a strong partnership with Sval to facilitate the rapid, cost-effective delivery of CCS clusters in Norway’s continental shelf," Storegga CEO Nick Copper said in a statement. "The CCS value chain starts with secure geological storage and then building the infrastructure to provide emitters with the access to carbon sequestration. As like-minded organisations, Sval and Storegga share a vision to make this happen.”
Norway wants to position itself as a leader in CCS development in Europe. It is progressing several projects, the largest and most advanced of which is the Northern Lights scheme led by state oil company Equinor. While Norway relies mostly on hydroelectricity in its power sector, its heavy industries still need decarbonisation, and it hopes to handle the CO2 emissions of other European countries as well.