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Norway to spend $1.8 billion on world's first full-scale CCS chain

Europe Materials 21 September 2020 14:45 (UTC +04:00)

The Norwegian government said on Monday it would finance 16.8 billion Norwegian crowns ($1.83 billion) out of the total investment cost of 25.1 billion crown cost for what could be the world’s first full-scale carbon capture and storage project, Trend reports with reference to Reuters.

Now baptised "Longship" , the project will see the government fund the transport and storage project Northern Lights, a joint project between European oil majors Equinor, Shell and Total.

It would also finance a carbon capture at a cement factory in southern Norway operated by Heidelberg Cement and a waste incineration facility in Oslo operated by Fortum - if the latter can find external financial support.

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