Six corporations together with subsidiaries of Equinor ASA and TotalEnergies SE have submitted proposals in a brand new exploration licensing spherical for carbon dioxide (CO2) sequestration on the Norwegian aspect of the North Sea.
The purposes have been in response to the Norwegian Vitality Ministry’s providing of three areas introduced June 6. This 12 months the ministry already awarded CO2 storage exploration licenses for 4 North Sea areas.
For the brand new providing, the ministry obtained purposes from Aker BP ASA, Equinor Low Carbon Options AS, Harbour Vitality Norge AS, Horisont Energi AS, Storegga Norge AS and TotalEnergies EP Norge AS, in accordance with a ministry press launch. The authorities count on to carry the nation’s seventh awarding of CO2 storage exploration licenses earlier than the 12 months ends.
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Licensing for CO2 storage is a part of Norwegian laws handed December 2014 to assist CO2 storage as a method to mitigate local weather change. An exploration allow grants “an unique proper [to a company or a group of companies] to exploration with a view towards assessing the potential for exploitation of a subsea reservoir for storage of CO2”, per the official textual content of the laws.
The Norwegian continental shelf holds a theoretical CO2 storage capability of 80 billion metric tons, which represents about 1,600 years of Norwegian CO2 emissions at present ranges, in accordance with an announcement on the federal government web site April 30.
Earlier this 12 months Equinor and two consortiums have been provided 4 CO2 storage exploration licenses concentrating on the North Sea.
“We see nice curiosity from the businesses and discover it gratifying that 4 affords at the moment are being despatched out”, Hilde Braut, assistant director for brand spanking new industries on the Norwegian Offshore Directorate, stated in an announcement June 20. The awards have been for an invite made March 6.
In addition to majority state-owned Equinor, which bagged two of the 4 licenses, the opposite winners have been a gaggle comprising Lime Petroleum AS, OMV (Norge) AS and Var Energi ASA and one other consortium consisting of Aker BP ASA and PGNiG Upstream Norway AS.
“The awards are given to corporations which have matured good, industrial plans”, Vitality Minister Terje Aasland stated of the outcomes introduced June.
“The licenses are provided with a binding work program which incorporates mileposts that guarantee quick and environment friendly progress or return of the areas if the licenses don’t perform the storage challenge”, Aasland stated on the time.
Norway has set a aim of slicing planet-warming emissions by at the least 55 % by 2030 in comparison with 1990 ranges, towards changing into a “low-emission society” by 2050, in accordance with its Nationally Decided Contribution submission to the United Nations Framework Conference on Local weather Change.
To contact the creator, e-mail jov.onsat@rigzone.com
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