Two more CO2 storage areas up for grabs offshore Norway

Two more CO2 storage areas up for grabs offshore Norway

The Norwegian Ministry of Energy is inviting applications for two areas for CO2 injection and storage in the North Sea, representing the sixth time acreage is being announced for CO2 storage on the Norwegian Continental Shelf (NCS).

The Norwegian Ministry of Energy announced two areas for CO2 storage on March 6, pursuant to the CO2 Storage Regulations, comprising defined blocks in the North Sea.

According to the Ministry, several commercial companies have made inquiries with desire regarding awards of one or more specific storage areas, which form the basis for the areas being announced.

“I am very pleased that several companies want storage areas for commercial storage of CO2 on the Norwegian continental shelf. We have developed a system that provides good access to promising areas. Today’s announcement for applications is another step on the road towards making Norway a central arena for CO2 storage as an important climate measure for Europe,” said Norway’s Minister of Energy Terje Aasland.

“Succeeding with large-scale CO2 storage is important for the world to reach its climate goals. Such solutions are important to the Norwegian government. That is why we are facilitating commercial CO2 storage on our continental shelf. If we succeed, such activity will have the potential to reduce emissions in Europe, while creating new and valuable jobs in Norway.”

The deadline for submitting applications is April 24 at 12:00 local time. The announcement and possible allocation of area for a storage permit will take place after individual applications.

So far, seven licenses have been awarded for CO2 storage offshore Norway, six in the North Sea and one in the Barents Sea. Most recently, Sval Energi, Storegga Norway and Neptune Energy Norway secured an exploration permit located east of the Sleipner Øst field in what was the fifth time acreage was awarded.

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