STOCK TITAN

TotalEnergies: Norway: Northern Lights Facilities Completed and Ready to Store CO2

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags

TotalEnergies and partners Equinor and Shell have completed the CO2 receiving and storage facilities of Northern Lights Joint-Venture in Norway. The project includes a terminal for CO2 cargos, a 100 km subsea pipeline, and injection facilities for permanent CO2 storage 2,600 meters below the seabed. Northern Lights is now ready to receive and store CO2 from European industries, with first injection expected in 2025.

The initial phase, supported by the Norwegian government, has a capacity of 1.5 Mt CO2/year, which is fully booked. Studies are underway for a potential expansion to over 5 Mt CO2/year in a second phase. This project marks a significant milestone in demonstrating Carbon Capture and Storage (CCS) as a viable option for achieving climate goals and decarbonizing European industry.

TotalEnergies e i partner Equinor e Shell hanno completato le strutture di ricezione e stoccaggio del CO2 del Joint-Venture Northern Lights in Norvegia. Il progetto include un terminal per i carichi di CO2, un oleodotto sottomarino di 100 km e strutture di iniezione per lo stoccaggio permanente del CO2 a 2.600 metri sotto il fondo marino. Northern Lights è ora pronta a ricevere e stoccare CO2 dalle industrie europee, con la prima iniezione prevista nel 2025.

La fase iniziale, supportata dal governo norvegese, ha una capacità di 1,5 Mt CO2/anno, che è già completamente prenotata. Sono in corso studi per una possibile espansione a oltre 5 Mt CO2/anno in una seconda fase. Questo progetto segna un traguardo significativo nel dimostrare che il Carbon Capture and Storage (CCS) è un'opzione valida per raggiungere gli obiettivi climatici e decarbonizzare l'industria europea.

TotalEnergies y los socios Equinor y Shell han completado las instalaciones de recepción y almacenamiento de CO2 del Joint-Venture Northern Lights en Noruega. El proyecto incluye un terminal para cargas de CO2, un oleoducto submarino de 100 km y las instalaciones de inyección para el almacenamiento permanente de CO2 a 2,600 metros por debajo del lecho marino. Northern Lights está ahora lista para recibir y almacenar CO2 de las industrias europeas, con la primera inyección esperada para 2025.

La fase inicial, apoyada por el gobierno noruego, tiene una capacidad de 1,5 Mt CO2/año, que ya está completamente reservada. Se están llevando a cabo estudios para una posible expansión a más de 5 Mt CO2/año en una segunda fase. Este proyecto marca un hito significativo al demostrar que la Captura y Almacenamiento de Carbono (CCS) es una opción viable para alcanzar los objetivos climáticos y descarbonizar la industria europea.

TotalEnergies와 파트너인 EquinorShell이 노르웨이에 있는 Northern Lights Joint-VentureCO2 수신 및 저장 시설을 완료했습니다. 이 프로젝트는 CO2 화물 전용 터미널, 100km 해저 파이프라인 및 해저 2,600m에 CO2를 영구적으로 저장할 수 있는 주입 시설을 포함합니다. 현재 Northern Lights는 유럽 산업에서 CO2를 수신하고 저장할 준비가 되어 있으며, 첫 번째 주입은 2025년에 예상됩니다.

노르웨이 정부의 지원을 받는 초기 단계는 1.5 Mt CO2/년의 용량을 가지고 있으며, 이는 이미 완전히 예약되었습니다. 두 번째 단계에서 5 Mt CO2/년 이상으로 확장 가능성에 대한 연구가 진행 중입니다. 이 프로젝트는 기후 목표를 달성하고 유럽 산업의 탈탄소화를 위한 탄소 포집 및 저장 (CCS)의 실행 가능한 옵션을 입증하는 중요한 이정표가 됩니다.

TotalEnergies et ses partenaires Equinor et Shell ont achevé les installations de réception et de stockage de CO2 du Joint-Venture Northern Lights en Norvège. Le projet comprend un terminal pour les cargaisons de CO2, un pipeline sous-marin de 100 km et des installations d'injection pour le stockage permanent de CO2 à 2 600 mètres sous le fond marin. Northern Lights est maintenant prête à recevoir et à stocker le CO2 des industries européennes, la première injection étant prévue pour 2025.

La phase initiale, soutenue par le gouvernement norvégien, a une capacité de 1,5 Mt CO2/an, qui est entièrement réservée. Des études sont en cours pour une éventuelle expansion à plus de 5 Mt CO2/an lors d'une seconde phase. Ce projet marque une étape importante dans la démonstration que le Captage et Stockage de Carbone (CCS) est une option viable pour atteindre les objectifs climatiques et décarboniser l'industrie européenne.

TotalEnergies und die Partner Equinor und Shell haben die CO2-Empfangs- und Speicheranlagen des Northern Lights Joint-Venture in Norwegen abgeschlossen. Das Projekt umfasst ein Terminal für CO2-Ladungen, eine 100 km lange Unterwasserpipeline und Injektionsanlagen für die permanente Speicherung von CO2 in 2.600 Metern unter dem Meeresboden. Northern Lights ist nun bereit, CO2 aus europäischen Industrien zu empfangen und zu speichern, wobei die erste Injektion für 2025 erwartet wird.

Die erste Phase, unterstützt von der norwegischen Regierung, hat eine Kapazität von 1,5 Mt CO2/Jahr, die bereits vollständig reserviert ist. Studien werden durchgeführt, um eine mögliche Erweiterung auf über 5 Mt CO2/Jahr in einer zweiten Phase zu prüfen. Dieses Projekt stellt einen bedeutenden Meilenstein dar, um zu zeigen, dass Carbon Capture and Storage (CCS) eine praktikable Option zur Erreichung der Klimaziele und zur Dekarbonisierung der europäischen Industrie ist.

Positive
  • Completion of world's first commercial CO2 transportation and storage project
  • 1.5 Mt CO2/year capacity fully booked by customers in Norway and Continental Europe
  • Potential expansion to over 5 Mt CO2/year in second phase
  • Strong contribution to decarbonization of European industry
Negative
  • None.

Insights

The completion of Northern Lights' CO2 storage facilities marks a significant milestone in Europe's decarbonization efforts. This world-first commercial CO2 transportation and storage project demonstrates the viability of Carbon Capture and Storage (CCS) technology at scale. With an initial capacity of 1.5 Mt CO2/year, fully booked by customers and potential expansion to 5+ Mt CO2/year, it represents a substantial step towards reducing industrial emissions.

The project's importance is underscored by its Norwegian government support and the international attention it has garnered, with over 10,000 visitors from 50+ countries. This showcases Norway's leadership in CCS technology and could serve as a model for similar projects globally. For investors, this development signals growing market opportunities in CCS infrastructure and services, potentially creating new revenue streams for energy companies transitioning towards cleaner technologies.

However, the long-term economic viability and scalability of CCS projects remain to be proven. Investors should monitor the project's performance, customer adoption rates and potential regulatory changes that could impact the CCS market's growth trajectory.

The Northern Lights project represents a significant advancement in Carbon Capture and Storage (CCS) technology. The completed facilities, including a 100 km subsea pipeline and injection infrastructure for CO2 storage 2,600 meters below the seabed, showcase the technical feasibility of large-scale CCS operations. This project is important for hard-to-abate industries seeking to reduce their carbon footprint.

The fully booked initial capacity indicates strong demand for CCS services, suggesting a promising market for this technology. The potential expansion to over 5 Mt CO2/year capacity further underscores the scalability of the project. This could accelerate the adoption of CCS across Europe, potentially leading to a significant reduction in industrial CO2 emissions.

However, it's important to note that while CCS is a vital tool for decarbonization, it should be part of a broader strategy including emissions reduction and renewable energy adoption. The success of Northern Lights could pave the way for more CCS projects, but investors should also consider the long-term environmental impact and the role of CCS in the overall energy transition landscape.

PARIS--(BUSINESS WIRE)-- Regulatory News:

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partners, Equinor and Shell, announce the completion of the CO2 receiving and storage facilities of Northern Lights Joint-Venture in Norway. The facilities consist in a terminal that will receive CO2 cargos, a 100 km subsea pipeline for CO2 transportation to the offshore storage location, and subsea injection facilities for safe and permanent CO2 storage in a reservoir 2,600 meters below the seabed.

Northern Lights is now ready to receive and permanently store CO2 from European industries, with first CO2 injection expected in 2025. Developing CO2 transportation and storage services is one of the necessary levers to reduce emissions and a realistic decarbonization solution for European industry.

Northern Lights is the world’s first commercial CO2 transportation and storage project. The first phase of the project was supported by the Norwegian government and has a capacity of 1.5 Mt CO2/year, which has been fully booked by customers in Norway and Continental Europe. Studies are under way for a capacity expansion to more than 5 Mt CO2/y in a second phase.

“Today’s ceremony marks a significant milestone - one that fills us with great pride and hope for the future. This is a proud moment not just for Northern Lights as a company, but for Norway and for the advancement of Carbon Capture and Storage (CCS) worldwide”, says Terje Aasland, Norwegian Minister of Energy.

“Today we achieved an important milestone on our journey to demonstrate CCS as a viable option to help achieve climate goals. The whole world is looking to Norway to learn about CCS. Since construction started, we have welcomed more than 10,000 visitors from more than 50 countries. Today we celebrated the completion of the facilities together with the people of our host municipality Øygarden, the Norwegian Ministry of Energy and key stakeholders, including policy makers and industry partners in the CCS chain. All are instrumental for the success of Northern Lights and the CCS business in Europe”, said Tim Heijn, Managing Director of Northern Lights JV.

We are proud to celebrate today the commissioning of the Northern Lights facilities. It has been a long journey since our partnership with the Norwegian State, Equinor and Shell was established in 2017. This major milestone signals the readiness of the infrastructure to store CO2 and we look forward to receiving the first volumes from hard-to-abate emitters in 2025. This will bring a strong contribution to the decarbonization of European industry, said Arnaud Le Foll, Senior Vice-President New Business - Carbon Neutrality at TotalEnergies.

“This is an exciting day for both Equinor, Northern Lights Joint Venture and our partners Shell and TotalEnergies. We are proud that Northern Lights, as part of the Longship value chain, has now been completed and is ready to receive CO2. It is an important milestone in the work of establishing a Carbon Capture and Storage value-chain in Europe”, says Grete Tveit, Senior Vice President Low Carbon Solutions at Equinor.

“Carbon capture and storage has a vital role to play in helping society achieve the goals of the Paris Agreement. Alongside efforts to avoid and reduce emissions, CCS will be an essential tool in supporting our customers on their decarbonisation journeys, particularly in those industries that are harder to decarbonise. I am delighted that the Northern Lights facilities are now ready to receive CO2 from industrial sites across Europe, for Shell this is an important part of our integrated offer to our customers”, said Anna Mascolo, Executive Vice President, Shell Low Carbon Solutions

***

About Northern Lights
Northern Lights, owned in equal shares by TotalEnergies, Equinor and Shell, is developing the world’s first cross-border CO2 transport and storage infrastructure. Delivering CO2 transport and storage as a service, Northern Lights enables mitigation of industrial emissions that cannot be avoided and accelerates the decarbonisation of European industry. Drawing on experience from over 25 years of CO2 storage on the Norwegian Continental Shelf, Northern Lights is at the forefront of developing CCS technologies. The company will transport liquefied CO2 from capture sites to an onshore receiving terminal in western Norway, before transporting it by pipeline for permanent storage in a reservoir 2,600 metres under the seabed. CCS is a necessary climate solution to decarbonise industry and reduce or remove industrial CO2 emissions. www.norlights.com

About TotalEnergies and Carbon Storage
TotalEnergies’ focus is first to avoid emissions and then to reduce them by developing and deploying a systematic approach, asset-by-asset, to implement the best available technologies. For residual emissions, the Company is developing industrial projects for carbon storage. Backed by core competencies in large-scale project management, gas processing and geosciences, TotalEnergies is on track to enable significant decarbonization of European businesses through projects such as Northern Lights in Norway, Aramis in the Netherlands and Bifrost in Denmark.

About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

@TotalEnergies TotalEnergies TotalEnergies TotalEnergies

Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

TotalEnergies Contacts

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR

Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com

Source: TotalEnergies SE

FAQ

When will Northern Lights begin CO2 injection operations?

Northern Lights is expected to begin its first CO2 injection operations in 2025.

What is the current CO2 storage capacity of Northern Lights (TTE)?

The current CO2 storage capacity of Northern Lights is 1.5 Mt CO2/year in its first phase.

Who are the partners involved in the Northern Lights project with TotalEnergies (TTE)?

TotalEnergies (TTE) is partnered with Equinor and Shell in the Northern Lights Joint-Venture project.

What is the potential expanded capacity for Northern Lights (TTE) in its second phase?

Studies are underway for a potential expansion to over 5 Mt CO2/year in Northern Lights' second phase.

TotalEnergies SE

NYSE:TTE

TTE Rankings

TTE Latest News

TTE Stock Data

140.48B
2.40B
0%
7.36%
0.3%
Oil & Gas Integrated
Energy
Link
United States of America
Courbevoie