Home Offshore Energy Horisont Energi signs letters of intent for commercial carbon storage

Horisont Energi signs letters of intent for commercial carbon storage

Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi

Horisont Energi announced that it has signed several letters of intent with major European companies, continuing its steady progress towards commercial carbon storage off the coast of Norway.

Carbon storage facilities on the Norwegian continental shelf are part of Horisont Energi’s large-scale, cost-leading and cutting-edge carbon storage strategy and are planned to be made commercially available to European industrial companies and power plants capturing CO2 and in need of secure storage.

“We see substantial and increasing demand for flexible and cost-effective carbon storage for the many CO2 capture projects in Scandinavia and the rest of Europe. We are happy to enable these CO2 capture initiatives to reduce the overall climate impact from power plants and other industrial facilities,” says Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

Today’s announcement is the latest in a series that demonstrates Horisont Energi’s steady progress towards being able to offer commercially attractive carbon storage services to third-party customers.

Horisont Energi announced March 23 that it had signed a memorandum of understanding with Baker Hughes, a global energy technology company, for the development of carbon storage assets. Furthermore, April 23, Horisont Energi announced a CO2 carrier and injection cooperation with the Knutsen Group to enable permanent carbon storage in reservoirs offshore. Also, as announced May 12, Horisont Energi signed a memorandum of understanding with TGS, a global provider of energy data and intelligence, to cooperate on furthering new carbon storage monitoring technologies and other carbon storage matters.

This puts Horisont Energi in a strong position when it comes to realising a competitive carbon storage business.

In addition, Horisont Energi’s first project, Barents Blue in Finnmark in Northern Norway includes a world-scale clean ammonia plant, with permanent storage of CO2 in the Polaris reservoir, located about a kilometre below the seabed in the Barents Sea.

Horisont Energi will leverage the knowledge and technology from the Polaris project to fast track the development of new carbon storages and connect the value chain supplying the market with cost-effective and flexible carbon-storage solutions.

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