The Ministry of Energy in Norway has designated two areas in the North Sea for applications for carbon dioxide (CO2) storage projects.
“I am very pleased that several companies want storage areas for commercial storage of CO2 on the Norwegian continental shelf. We have developed a system that provides good access to promising areas. Today's announcement for applications is another step on the road towards making Norway a central arena for CO2 storage as an important climate measure for Europe”, said Minister of Energy Terje Aasland.
Awards of such areas are a prerequisite for large-scale carbon capture and storage, according to the ministry. The two areas announced by the ministry are a response to inquiries made by companies seeking one or more specific areas for CO2 injection and storage, it said.
“Succeeding with large-scale CO2 storage is important for the world to reach its climate goals. Such solutions are important to the Norwegian government. That is why we are facilitating commercial CO2 storage on our continental shelf. If we succeed, such activity will have the potential to reduce emissions in Europe, while creating new and valuable jobs in Norway”, said Aasland.
The ministry said that applications for storage permits can be filed by the deadline day on April 24, 2024. The permitting process is initiated with the application, once it is confirmed that the applicant has “a sufficiently good basis for applying”.
The ministry said that the Norwegian government is facilitating the socio-economically profitable storage of CO2 on the Norwegian continental shelf.
“Companies that have the necessary expertise and that have specific, industrial plans that entail a need for storage on a commercial basis can apply to the Ministry of Petroleum and Energy for a license adapted to the needs of the business”, the ministry said.
Furthermore, the government will conduct a predictable, efficient, and flexible process to award industrial players access to relevant storage options, it said.
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