Published by Todd Bush on September 4, 2023
OSLO, Norway, Sept. 4, 2023 /PRNewswire/ -- Höegh LNG and Aker BP have entered a strategic partnership to develop a fully comprehensive carbon transport and storage offering for industrial CO2 emitters in Northern Europe. The agreement combines the companies' respective strengths, expertise, and technologies to establish a strong value chain for CCS on the Norwegian Continental Shelf that includes gathering, transporting and securely injecting CO2 for permanent storage in subsea reservoirs.
"Höegh LNG welcomes the opportunity to join forces with Aker BP and deliver a large scale, one-stop shop CCS value chain to industrial emitters before 2030. Together we will provide market-leading solutions for decarbonizing at a low unit cost, contributing to the energy transition in Europe," said Erik Nyheim, CEO of Höegh LNG.
"We expect CCS to play a key role in the transition to a low-carbon energy future. This partnership reflects our ambition to advancing CCS solutions by combining Aker BP's strengths in subsurface understanding and large-scale project development with Höegh LNG's technical expertise in the LNG sector," said Karl Johnny Hersvik, CEO of Aker BP.
>> Additional Reading: Aker BP and OMV Awarded Licence for CO2 storage
Technical Development: Höegh LNG will spearhead the further development of their concept of Floating CO2 Storage Units (FCSO) enabling purification and aggregating CO2 from multiple emitters in key export hubs. Such units will make it possible to offer cost efficient solutions also to smaller emitters that would otherwise not be able to develop solutions on their own. The liquified CO2 will be transported by CO2 Shuttle Tankers at low pressure that results in larger transportation capacity and lower CO2 unit cost due to scale. Aker BP will lead the development of Offshore Injection Facilities and identify suitable subsea reservoirs for CO2 storage.
Commercial development: Höegh LNG and Aker BP will work together to unlock potential new business opportunities for CO2 transportation and storage solutions, within the Norwegian Continental Shelf, for CO2 captured from multiple identified industrial emitters in North-West Europe.
By entering into this agreement, Aker BP and Hoegh LNG are collaborating as strategic partners to develop seaborn transportation and injection solutions for CO2.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💰 Gevo Transforms Carbon Waste Into Market Gold 🛫 CADO and 4AIR Harmonize SAF Registries for Commercial and Business Aviation 🌊 Vortex Energy Receives Government Approval for Amb...
Inside This Issue 🌎 US Carbon Capture Race: $77B Industry Shifts Global Balance 🛠️ NETL Releases Tool To Calculate Costs of Geologic Carbon Storage Projects in the Gulf of America ✈️ Avia Solution...
Inside This Issue 💰 BlackRock’s €1 Billion Bet on Eni Fuels Carbon Capture Confidence 💧 Wastewater Contaminants Boost Green Hydrogen Production 🌾 Gevo Sells Carbon Credits from North Dakota Asset ...
CADO and 4AIR Harmonize SAF Registries for Commercial and Business Aviation
MONTREAL /PRNewswire/ -- The Civil Aviation Decarbonization Organization (CADO) and 4AIR announced a strategic collaboration between their respective Sustainable Aviation Fuel (SAF) registries. The...
Gold Standard Launches Framework for High-Integrity Engineered Carbon Removals
New Engineered Removals Requirements set rigorous standards for carbon removal certification Updated methodologies now cover mineral waste, BECCS, and fermentation-based CDR All projects must cont...
DENVER--BKV Corporation (“BKV” or the “Company”) (NYSE: BKV) today announced the execution of an agreement with a leading diversified midstream energy company to develop a new carbon capture and se...
For the widespread deployment of carbon capture, utilization and storage (CCUS) to succeed, emitters, financiers and project developers continue to be challenged to make viable investment decisions...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.