The Norwegian government announced on Tuesday its endorsement of the Northern Lights project that is going to be jointly implemented by Total SE, Shell Oil Company and Equinor ASA.
The Northern Lights project involves the construction and operation of facilities and mechanisms for transporting and storing carbon dioxide (CO2). According to the proposed plan, it will be "the first-ever cross-border, open-source CO2 transport and storage infrastructure network" that will be open to third parties, enabling them to store CO2 underground.
The three companies made a joint investment decision in May, and are currently creating a joint venture to conduct all project activities for both the preparation and implementation phases. The first phase is expected to be completed by 2024, supporting a capacity of 1.5 million tons of CO2 on an annual basis.
