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Climate Change

Equinor, Shell, and Total to invest in Norwegian CO₂ storage

by Craig A. Bettenhausen
May 21, 2020 | APPEARED IN VOLUME 98, ISSUE 20

 

Equinor, Shell, and Total will invest $695 million in a carbon storage project off the coast of Norway. The Northern Lights facility, scheduled to begin operating in 2024, will store 1.5 million metric tons (t) of CO2 per year in a geological formation 2,500 m below the seabed. Future expansions could increase the annual storage to 5 million t; the site is expected to be able to permanently hold around 100 million t. The Norwegian government will make a final decision on the project later this year.

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