Two licenses under the carbon storage regulations awarded on the NCS
Press release | Date: 06/04/2022 | Ministry of Energy
Today, the Norwegian Ministry of Petroleum and Energy has awarded two licences in accordance with the CO2 storage Regulations on the Norwegian Continental Shelf (NCS). One in the North Sea and one in the Barents Sea.
- In order to reach the world’s ambitious climate goals, carbon capture and storage (CCS) is necessary. In Norway we have experience with CCS at the Sleipner and Snøhvit fields, and we know it works. The Norwegian Government welcomes the development of the Norwegian Continental Shelf as a leading province for CO2 storage, says Minister of Petroleum and Energy, Mr. Terje Aasland.
The licence in the North Sea is awarded to Equinor ASA, the licence in the Barents Sea is awarded to Equinor ASA, Horisont Energy AS and Vår Energi AS.
- We want to provide attractive storage areas to companies that provide solutions on a commercial basis to industrial customers. We will process inquiries quickly and effectively. There is a substantial interest for licences under the carbon storage regulations from several Norwegian and international companies. This is a positive signal that confirms our political goals, says Minister Aasland.
Both licences come with a work programme that ensures effective project development, and that licences are relinquished if projects prove unfeasible.
Visit the Norwegian Petroleum Directorates pages for more information, maps and work programmes,