Business Opportunities

The Northern Lights project could help Europe meet its ambition of climate-neutrality by 2050. The ship transport provides flexibility to reach large emission points in Europe, which would enable the scale-up of a CO2 transport and storage network open to CO2 capture sites across Europe.

Enabling a European transport and storage network

The Paris Agreement aims to achieve net-zero emissions in the second half of the century with an essential role for carbon sinks to achieve this goal. Carbon Capture and Storage (CCS) is key to virtually all industrial sectors in the pursuit of a low carbon economy consistent with Europe’s commitment to the Paris Climate Agreement. CCS currently represents one of the most effective solutions to combine greenhouse gas emissions reduction with industrial growth, at lowest cost to society.

Building on more than 23 years of operation with safe CO2 storage on the Norwegian Continental Shelf within the partnership, the Northern Lights Project will contribute a key first step to realize a European network for CO2 transport and storage.

Northern Lights Project Director Sverre Overaa explaining CCS at Sleipner

Opportunities for emitters across Europe

The Northern Lights project will be developed in two phases. Phase 1 includes concept capacity to transport, inject and store up to 1.5 million tons of CO2 per annum, Phase 2 will expand capacity by an additional 3.5 million tons of CO2 per annum, adding up to a total of 5 million tons of CO2 per annum. Phase 2 will be triggered based on market demand from large CO2 emitters, most likely on the European continent. Both phases of the Northern Lights will offer flexibility and capacity to receive additional volumes from European CO2 sources.

Given a positive final investment decision from the Norwegian Government and the project partners in 2020, Phase 1 is to be operational in 2023. For more information, please see the Timeline.

For any 3rd parties who take interest in having more detail on including Northern Lights as a transport and storage provider in a their CO2 value chain, please contact Sverre Overå or Per Sandberg.

A Project of Common Interest for the EU

In order to help the EU achieve their energy policy and climate objectives; affordable, secure and sustainable energy for all citizens, and the long-term decarbonization of the economy in accordance with the Paris Agreement, the EU has established Projects of Common Interest (PCIs). These projects are key cross border infrastructure projects that link the energy systems of EU countries.

The Northern Lights Project was awarded with the Project of Common Interest (PCI) status in January 2020. The PCI ‘Northern Lights – Enabling a ship-based European CO2 Transport and Storage Network’ includes 16 partners from 7 countries, and aims to build a CCS Network that will enable European industry to decarbonize. This relevant partners and countries are listed in the map below.

alt text

In light of the Covid-19 situation the Northern Lights PCI partners have developed a joint memorandum detailing the value of a European CCS ecosystem in green recovery. The memorandum refers to specific project being developed by the partners in the PCI, and highlights the benefits of accelerating these projects by detailing the number of jobs that would be created, and the total CO2 emissions reduction that would be achieved.

The Northern Lights PCI Memorandum – Value of a European CCS Ecosystem in Green Recovery can be found here.