Norway has announced the availability of two new CO₂ storage areas in its territorial waters, advancing its efforts in carbon capture and storage (CCS) technologies. This move underscores the country’s commitment to reducing greenhouse gas emissions. greenhouse gas emissions emissions and its leadership in promoting sustainable solutions to climate change.
New areas for CO₂ storage.
The designated areas, located on the Norwegian continental shelf, have been identified after extensive geological analysis and are considered ideal for safe, long-term storage of CO₂. The initiative is part of the country’s broader strategy to combat climate change, building on its experience in offshore operations to lead in the field of carbon storage.
Likewise, the Norwegian government has opened the application process for companies interested in developing these CO₂ storage projects, with the objective of selecting candidates that not only demonstrate technical and financial capacity, but also a commitment to innovation and environmental sustainability.
This announcement comes at a time when global demand for CO₂ storage solutions is on the rise, driven by growing awareness of the need to reduce carbon emissions and meet the goals of the Paris Agreement. Norway, with its long history of offshore exploration and production, is well positioned to become a key hub for global CO₂ storage.
The final deadline for submission of proposals is set for April 24, according to local time. The selection and announcement of the candidates for the concession of storage areas will be carried out after evaluating all the proposals submitted.
To date, the Norwegian government has granted a total of seven licenses for CO₂ storage projects in its waters, distributed between six in the North Sea and one in the Barents Sea. In the latest allocation round, Sval Energi, Storegga Norway and Neptune Energy Norway were the recipients of an exploration permit near the Sleipner Øst field, marking the fifth occasion that areas have been allocated for this purpose.
The opening of new areas for CO₂ storage in Norway not only strengthens the country’s role in the fight against climate change, but also offers opportunities for innovation and economic development, aligning environmental efforts with sustainable growth.
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Source: offshore-energy.biz
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