Operator chosen for first Arctic CCS project
Norway
SANDNES, January 4, 2024 – Norway has approved PGNiG Upstream Norway as the operator of the Arctic’s first CCS project, its partner local green energy company Horisont Energi announced on Wednesday.
The move follows Horisont Energi signing a sales and purchase agreement in December 2023 with the subsidiary of Polish energy multinational energy entity Orlen Group that saw both partners take a 50% stake in carbon dioxide exploration licence EXL003 Polaris.
“With PGNiG Upstream Norway now in place as operator and partner, we have a very strong fundament to unlock the potential of Polaris as a vehicle to reduce emissions on an industrial scale,” said Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.
The offshore Polaris field is located 140 kilometres from Hammerfest, Norway, and is expected to have a storage capacity of 3 million tonnes per year of carbon dioxide.
The project is estimated to be able to store 100 million tonnes of carbon dioxide and be operational for between 12 and 25 years.
The Polaris CCS development will be available for third party storage.
Design of the project is expected to finalised in 2024, with its first carbon injection planned in Q4 2028 or Q1 2029.
The facility will be the first of its kind on the Barents Sea and in the Arctic region.
PGNiG Upstream Norway was one of 25 companies awarded licences in its 2022 oil and gas bid round in January 2023.
Read our latest insights on:
More content from Norway
Latest news and features
