Sval will own a 40% stake in project. Credit: Sval

Sval Energi, Storegga Geotechnologies, and UK-based Neptune Energy have applied for an offshore carbon storage licence together in Norway’s Trudvang site.

The application follows the announcement last month of a new area in the North Sea for applications linked to the injection and storage of CO₂ made by the Norwegian Ministry of Petroleum and Energy.

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The storage project is situated 165km from the Norwegian shore, east of the Sleipner field. It is at a depth of nearly 850m in the Utsira formation.

The project has the capacity to store up to 225 million tonnes of CO₂ over the ensuing 20 to 30 years.

Sval Energi senior vice-president of sustainability and HSEQ Truls Olsen-Skåre said: “The Trudvang partners have worked jointly since December 2021 to identify, nominate, and apply for this licence. We have undertaken a substantial amount of work already, including subsurface evaluation of the storage complex, and technical and economic assessment of the CCS value chain.

“This work has shown that Trudvang can be matured into a commercially viable project with safe and efficient carbon storage.”

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The Trudvang project will capture and store CO₂ released by numerous industrial companies in Northern Europe, as well the UK.

The companies will ship liquid CO₂ from export terminals to an onshore receiving terminal, through a specially constructed pipeline, to the Trudvang site for injection and permanent storage.

Neptune Energy global head of subsurface, new energy, Pal Haremo said: “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.

Sval is the proposed owner and operator of Trudvang, holding a 40% stake. Storegga and Neptune will own 30% stakes each.