Public finance of Norway CCS project approved

Mar 19 2017


The EFTA Surveillance Authority (ESA) has approved Norwegian public financing of studies for full-scale Carbon Capture and Storage (CCS) demonstration projects that aim to reduce CO2 emissions.

In 2014, the Norwegian Government presented its CCS strategy. The goal is to realise at least one full-scale CCS demonstration project by 2020 and Norway has allocated up to NOK 360 million (approx. EUR 40 million) to CCS studies in 2017.

“Norway has been at the forefront of CCS technology development and ESA is happy to approve well-designed measures with clear environment objectives”, says ESA president Sven Erik Svedman.

To be able to continue the development of CCS technology and reach the goal of realising at least one concrete CCS project, Concept and FEED studies will play an important role. They reduce the uncertainties inherent in the delivery of the CCS projects through mapping of the potential risks and issues affecting the project.

Depending on the results from the Concept and FEED studies, the Norwegian authorities will decide whether to proceed with a full-scale project. The Concept and FEED studies are managed by Gassnova SF, a Norwegian state enterprise that has been tasked with finding solutions to ensure that technology for capture and storage of CO2 can be implemented and become an effective climate measure.

EFTA


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Issue 55 - Jan - Feb 2016

CCS in review Global CCS Institute Status CCS: 2016 .. IEA - 20 years of CCS: accelerating future deployment .. Full-chain integrated CCS demo in Hokkaido, Japan CCS in India: report from our inaugural conference in Mumbai .. UK Parliamentary Advis.....



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