What's Happening?
The Norwegian CO2 storage initiative, Northern Lights, has announced a significant expansion of its fleet, aiming to double its capacity by 2029. This development follows the company's recent success in completing its first injection of liquid CO2 for
permanent storage. Northern Lights, a joint venture between Equinor, TotalEnergies, and Shell, has secured new charter agreements with major shipping companies, including Kawasaki Kisen Kaisha, MISC Berhad, and Mitsui O.S.K. Lines. These agreements will see the construction of new vessels, each with a capacity of 12,000 cubic meters of liquefied CO2, to be delivered between 2028 and 2029. The expansion is part of Northern Lights' strategy to enhance its operations and flexibility in CO2 transport and storage.
Why It's Important?
This expansion is a critical step in advancing carbon capture and storage (CCS) technologies, which are essential for reducing industrial CO2 emissions. By increasing its fleet, Northern Lights can transport more CO2 from major emitters across Europe to its storage facilities in Norway. This move not only supports global efforts to combat climate change but also positions Northern Lights as a leader in the emerging CCS market. The initiative could set a precedent for similar projects worldwide, encouraging investment in sustainable technologies and infrastructure.
What's Next?
Northern Lights plans to continue its expansion with Phase 2, which aims to increase its transport and storage capacity from 1.5 million tonnes to at least 5 million tonnes of CO2 per year. The company will likely seek further partnerships with industrial emitters and shipping companies to support this growth. As the project progresses, it may face regulatory and logistical challenges, but successful implementation could lead to broader adoption of CCS technologies.
