Under this agreement, TotalEnergies E&P Denmark will hold a 45% interest in the Bifrost CCS Project as the operator, alongside CarbonVault (35%) and Nordsøfonden (20%), subject to approvals.
The Bifrost Project, which comprises two CO2 offshore storage licenses located approximately 200 kilometers west of the Danish coast, is part of TotalEnergies’ North Sea CCS portfolio.
SCHWENK said it is committed to the decarbonisation of its activities in Europe and chose Bifrost to be its preferred solution to store its future emissions. This partnership within the Bifrost Project illustrates how TotalEnergies can contribute to its customers’ own emissions reduction by combining the decarbonisation roadmap of an industrial emitter with the capabilities of a CCS developer.
“We look forward to working with our new partner to ensure the successful deployment of the Bifrost Project, a cornerstone of Denmark’s national ambition to establish a European hub for CO2 storage,” said Arnaud Le Foll, Senior Vice-President New Business - Carbon Neutrality at TotalEnergies.