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Norway: Statoil, Shell & Total CO2 Storage Partnership

Norway: Statoil, Shell & Total CO2 Storage Partnership

The three companies share a mutual vision of carbon storage infrastructure

In order to mature the development of carbon storage on the Norwegian continental shelf (NCS), Statoil, Shell and Total are entering into a partnership agreement which is part of the Norwegian authorities’ efforts to develop full-scale carbon capture and storage in Norway

Statoil was awarded the contract by Gassnova for the first phase of the project. While Statoil will lead the project, Norske Shell and Total E&P Norge are now entering as equal partners, with all the partners contributing people, experience, and financial support.

Irene Rummelhoff, Statoil’s executive vice president for New Energy Solutions said, “Statoil believes that without carbon capture and storage, it is not realistic to meet the global climate target as defined in the Paris Agreement. We are very pleased to have Shell and Total as partners and believe their experience and capabilities will further strengthen this project. We trust that this robust partnership is well positioned to develop this first-of-a-kind project”.

“Shell sees CCS as a transformative technology that can significantly reduce emissions from those industrial sectors that will continue to rely on hydrocarbons for decades to come,” said Monika Hausenblas, Shell’s executive vice president for Environment and Safety. “Shell has significant experience of working with governments and other experts to support the development and wide-scale deployment of CCS and are pleased to be joining forces with our joint venture partners.”

“Total is integrating the climate challenge into its strategy,” said Philippe Sauquet, President, Gas, Renewables & Power and President, Strategy-Innovation at Total.  “Total’s involvement in this first commercial-scale storage project, is thus fully aligned with our low carbon roadmap and our strategy to ultimately become a global CCUS leader. The aim of this first integrated industrial-scale project, supported by the Norwegian Government, is to develop viable, reproducible commercial CCUS model in view of carrying out other major projects around the world.”

Aiming to encourage new commercial carbon capture projects in Norway, Europe and more globally across the world, the project will be designed to accommodate additional CO2 volumes. Receiving CO2 from industrial sources in several countries, the project, in this manner, has the potential to be the first storage project site in the world. PWKD05102017

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