Aker BP and Höegh Evi have secured 223 million euros in funding from the European Union's Innovation Fund for a major project in carbon dioxide (CO2) transport and storage in Norway. This project, known as the Atlantis project, aims to permanently store CO2 from European industries on Norway's offshore platforms.
Details of the Atlantis Project
The Atlantis project includes regional CO2 aggregation, low-pressure marine transport, and offshore storage. The project will commence with a design capacity of 6 million tons of CO2 per year, with the potential to expand to over 10 million tons as the European CCS market develops. In April, this project was identified as a European mutual project (PMI 13.17) and was approved as a transboundary CO2 infrastructure for Europe.
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The Atlantis project has completed its feasibility stages and has reached the Select phase, aiming for a final investment decision (FID) in 2028 and the first CO2 injection in 2031.
Role of Höegh Evi and Aker BP
Niels Jacob Hassle, Executive Vice President of Clean Energy at Höegh Evi, stated: "Atlantis demonstrates how regional aggregation and low-pressure marine transport can effectively connect industrial areas to permanent CO2 storage. This flexible marine model can be expanded with the development of the European CCS market." According to Höegh Evi, CO2 will be aggregated at regional export hubs near industrial clusters and transported to the Atlantis storage site in the Norwegian Sea by dedicated carriers.
CO2 will be injected into a saline aquifer over 2000 meters deep beneath the seabed at the storage site located in EXL011, which is managed by Aker BP. Aker BP holds an 80% stake in the project, while Ørsted Upstream Norway holds a 20% stake.
Ørjan Jentoft, CCS Asset Manager at Aker BP, stated: "Europe needs safe and cost-effective permanent CO2 storage. Atlantis is designed to provide European industries with significant storage capacity on Norway's offshore platforms and create the necessary economies of scale to reduce CCS value chain costs."
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