Norway proposes to invest £54m in CCS projects in 2020

Norway proposes to invest £54m: The Norwegian Government has proposed to invest a total of NOK628 million (£54m) in the development of carbon capture and storage (CCS) projects in the country this year.

The budget proposal for 2020 would support continuation of the work for a full-scale CO2 capture, transport and storage project, provide funds for the operation of the Technology Centre at Mongstad (TCM) and research programme CLIMIT.

A total of NOK215 million will be allocated for the development of the capture and storage of CO2 and will evaluate the results from the front end engineering and design studies prior to making an investment decision further.

There are ongoing negotiations between Gassnova and the industrial owners of TCM for a new agreement for continued operation of the facility after the current participation agreement expires in August this year.

The government will decide whether to continue the operation of TCM once a new participation agreement draft is available.

It has also pledged to continue to support research, development and demonstration of CCS technology through the CLIMIT programme, which provides financial backing for collaborative CCS technology development and is aimed at companies, research institutes, universities and colleges.

Petroleum and Energy Minister Kjell-Børge Freiberg said: “CO2 capture and storage will be one of several necessary tools to reach the goals in the Paris Agreement. The government will continue to develop technology for CO2 capture, transport and storage and we have spent large funds on the development and planning of full-scale projects. We propose to continue this effort in 2020.”

ELN visited the TCM facility in Norway in 2013.

The post Norway proposes to invest £54m in CCS projects in 2020 appeared first on Energy Live News.

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