![Equinor Expands CCS Network with North Sea Licenses](/sites/default/files/styles/hart_news_article_image_640/public/image/2024/06/equinor-expands-ccs-network-north-sea-licenses.jpg?itok=RJhzsSRE)
Equinor will be able to store around 5 MMmt/y of CO2 when the facilities are in operation on the Norwegian Continental Shelf. (Source: Ole Jørgen Bratland/ ©Equinor)
Norway-based Equinor has added to its list of carbon-capture projects in Europe.
The company announced June 20 that the Norwegian Ministry of Energy awarded it two licenses to operate two CO2 storage basins in the North Sea. Equinor will be able to store around 5 MMmt/y of CO2 when the facilities are in operation on the Norwegian Continental Shelf.
The government of Denmark also awarded Equinor, in partnership with Ørsted and Nordsøfonden, a permit to begin exploration for an onshore storage facility. The reservoir will be 1,400 meters below ground with the potential to store up to 12 MMmt/y of CO2.
The Denmark license is near Ørsted’s shipping and storage terminal Kalundborg CO2 hub. At the site, the Danish energy company is constructing a CO2 capture facility at a power plant that will be operational in two years.
“To mature more CO2 storage capacity aligns with our ambition of having 30 [million tons] to 50 million tons of CO2 transport and storage capacity per year by 2035,” said Grete Tveit, Equinor’s senior vice president for low carbon solutions.
The announcements came three days after Equinor announced another CCUS project in France. The company is developing a CO2 transport line with a French midstream firm.
![Equinor](/sites/default/files/inline-images/Equinor%20image.jpg)
Recommended Reading
Beyond Permian? Breaking Down E&Ps’ Second Half M&A Prospects
2024-07-22 - From Permian Resources and Diamondback Energy to Matador Resources and Civitas Resources, analysts weigh in on upstream companies’ M&A mindset as second-quarter earnings season gets underway.
Ecopetrol in Discussions with Oxy to Buy $3.6B Stake in CrownRock
2024-07-19 - Occidental Petroleum is in talks with joint venture partner Ecopetrol SA to acquire a 30% stake in CrownRock LP for approximately $3.6 billion, according to regulatory filings.
Exxon Mobil Selling Malaysia Oil, Gas Assets to Petronas - Sources
2024-07-19 - Exxon Mobil, which last year marked its 130th year in Malaysia, has been trying to sell its upstream assets in the country since 2020.
The $22.5B Deal: How ConocoPhillips Won Marathon Oil in 33 Days
2024-07-19 - ConocoPhillips didn’t show up until April 25, while two other unidentified public E&Ps were bidding for Marathon, according to a filing with the Securities & Exchange Commission.
SM Energy Offers Senior Notes to Help Fund $2B XCL Resources’ Deal
2024-07-18 - SM Energy said it intends to use the net proceeds from the notes to fund its pending $2.04 billion purchase of XCL Resources.