Norway’s Sval Energi, UK-based Neptune Energy and carbon management outfit Storegga have applied for a licence to store carbon dioxide at the Trudvang site in the Norwegian North Sea with a start date targeted for 2029.
The Trudvang storage reservoir license is located at a depth of about 850 metres in the Utsira formation, east of the Sleipner field and about 165 kilometres from the Norwegian coast. It has the potential to store up to 225 million tonnes of CO2 over the next 20 to 30 years, according to statements by Neptune and Sval.
The application comes after the Norwegian Ministry of Petroleum & Energy opened new areas of the North Sea for applications related to the injection and storage of CO2.
Neptune Energy’s global head of subsurface new energy, Paal Haremo said the partners had “progressed the storage application in record time”.
He stated: “The North Sea has great potential as a hub for carbon storage given the availability and proximity of existing infrastructure, depleted reservoirs and saline aquifers.”
Neptune is also working on potential projects in the Netherlands and UK and, according to Haremo, the comany aims to build a portfolio for carbon storage linked to our core areas in the North Sea.
“Trudvang could be a key contributor to Neptune’s 2030 goal of storing more carbon than is emitted from our operations and from use of the oil and gas products we sell,” he said
The Trudvang storage reservoir is to capture and store CO2 emitted by multiple industrial players in Northern Europe and the UK.
Under the Trudvang licence, the trio have pledged to ship liquid CO2 from export terminals to an onshore receiving terminal in the south-west of Norway, then transport via a pipeline to the Trudvang location for injection and permanent storage.
Sval has a 40% stake in the planned project, and Storegga and Neptune each hold a 30% interest.
“In Europe, approximately 300 million tonnes of hard-to-abate CO2 is emitted each year. The Trudvang project has the potential to reduce these emissions on a large scale,” said senior vice president for sustainability and HSEQ at Sval Energi Truls Olsen-Skare.
Nick Cooper, chief executive of UK-based decarbonisation development business Storegga, added that the latest round of CO2 storage applications would help Norway build on its “pioneering progress with the world’s first industrial-scale, multi-user CCS project”.
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