Energy companies Equinor and Wintershall Dea announced the formation of a new partnership aimed at developing a large-scale Carbon Capture and Storage (CCS) value chain, aimed at connecting industrial CO2 emitters in Germany with storage on the Norwegian Continental Shelf.
In a statement announcing the new collaboration, the companies that the new project, Norwegian-German CCS (NOR-GE), aims “to make a vital contribution to reducing greenhouse gas emissions in Europe. “
Anders Opedal, CEO and President of Equinor, said:
“This is a strong energy partnership supporting European industrial clusters’ need to decarbonise their operations. Wintershall Dea and Equinor are committed to the energy transition and will utilise the competence and experience of both companies to work with governments and partners to help reach the net-zero target.”
The new project is anticipated to have a capacity of 20 to 40 million tonnes of CO2 per year, equivalent to roughly 20% of annual German industrial emissions, with a 900 km open access pipeline planned connecting a CO2 collection hub in Germany and the Norway storage sites. The companies are aiming for the project to be commissioned by 2032.
The companies are also expecting to jointly apply for offshore CO2 storage licenses, to store between 15 and 20 million tonnes per year on the Norwegian Continental Shelf.
Mario Mehren, CEO of Wintershall Dea, said:
“Wintershall Dea and Equinor will work together to establish technical and commercial solutions for the development of cross-border CCS value chains in Europe and work with governments to shape a regulatory framework that can enable it. We will build on our close cooperation and open the next chapter of German-Norwegian partnership.”