OSLO, Sept 24 (Reuters) - A sharp rise in the deployment of carbon capture, utilization and storage (CCUS) technology is needed globally if countries are to meet net-zero emissions targets designed to slow climate change, the International Energy Agency (IEA) said on Thursday. A growing number of countries and companies are targeting net zero carbon dioxide (CO2) emissions … [Read more...]
Norway’s $2.6 Billion Carbon Capture Bet Could Help Save the Planet
By Akshat Rathi (Bloomberg) -- Plentiful reserves of fossil fuels and rich seams of valuable minerals are no guarantee of national health, wealth or happiness. The “resource curse” has blighted many countries: Venezuela and the Democratic Republic of Congo, for example, have suffered from years of graft, civil unrest and poverty. After discovering oil in the 1960s, Norway … [Read more...]
Norway’s Full-Scale Carbon Capture Project Could Become Financial Disaster, Report Warns
By Mikael Holter (Bloomberg) --Norway’s plan for a full-scale carbon capture and storage project could end up a financial disaster, according to a new report that includes an increased cost estimate for the venture. The likely cost of building and operating the project over 10 years -- most of which would be funded by the government -- could be as much as 25 billion kroner … [Read more...]
‘Historic’ Investment Decision on Major Carbon Capture and Storage Project Offshore Norway
A trio of oil industry majors have made a historic investment decision on a large-scale offshore carbon capture and storage project offshore Norway seen as crucial to combating climate change. Equinor, Shell and Total announced their decision Friday to invest in the Northern Lights project in in Norway’s first exploitation license for carbon dioxide storage. Initial … [Read more...]
Equinor: Exploratory Carbon Storage Well Drilled in Norway
An illustration of a carbon capture and storage. Image credit: Equinor Norwegian energy giant Equinor and its partners Shell and Total have completed exploration drilling of a well that could serve as a reservoir for carbon storage. The 31/5-7 Eos well is located south of the Troll field in the Norwegian sector of the North Sea. The purpose of the drilling was to … [Read more...]