Storegga, a UK company specialising in carbon reduction and removal, has entered into an agreement with Sval Energi to explore joint business opportunities for carbon storage on the Norwegian continental shelf.
The purpose of the agreement is to establish a common platform to secure the award of CO2 storage licences by identifying carbon storage opportunities and building a robust business case.
Storegga and Sval believe their complementary skills and expertise position the alliance at the forefront of exploration for CO2 storage projects in Norway. Storegga is lead developer on the Acorn CCS project, said to be on of the most advanced large-scale CCS projects in Europe.
Nick Cooper, Storegga CEO, commented: “We look forward to building a strong partnership … the CCS value chain starts with secure geological storage and then building the infrastructure to provide emitters with the access to carbon sequestration. As like-minded organisations, Sval and Storegga share a vision to make this happen.”
Nikolai Lyngø, CEO at Sval Energi, said: “This agreement brings us closer to delivering on our ambitions and will help mature decarbonisation initiatives in Norway.”