Aker Carbon Capture and Northern Lights JV have signed a non-exclusive
Memorandum of Understanding (MoU) to collaborate on realization of Carbon
Capture and Storage (CCS) projects in Norway and across Europe. Together, the
two companies represent a full value chain offering from carbon capture through
transport and storage. The MoU also seeks to optimize logistics and standardize
ship-shore interfaces.
Valborg Lundegaard, Chief Executive Officer of Aker Carbon Capture said:
"Through the Longship project, Norway has taken a leadership position in
enabling industrial decarbonization through Carbon Capture and Storage. This
collaboration between Northern Lights and Aker Carbon Capture aims to build on
learnings from the Longship project and enable the accelerated deployment of CCS
projects across Europe".
Børre Jacobsen, Managing Director of Northern Lights JV said: "Interest in CCS
is picking up across Europe. Northern Lights is well positioned to contribute
accelerating the development and we are looking forward to working with Aker
Carbon Capture to realize the potential of the CCS market in support of climate
targets. This will require technical and commercial innovation as well as cross
-sector collaboration".
The collaboration will allow emitters access to full value chain offerings at
locations where the combined technical concept of Aker Carbon Capture's
technology and the CO2 transport and storage capabilities of Northern Lights is
best suited.
Jon Christopher Knudsen, Chief Commercial Officer of Aker Carbon Capture said:
"Northern Lights is a first-mover in enabling open-source CO2 transport and
storage infrastructure across north-west Europe. With operations starting in
2024 they are an essential player in enabling the accelerated deployment of the
CCS industry. Their ambitious plans link very well with Aker Carbon Capture's
ambition to have 10 million tonnes of CO2 on contract by 2025. Together with
Northern Lights and with our 'Carbon Capture as a Service' offering, we can now
develop source-to-storage decarbonization on a pay per tonne of captured CO2
model".
Northern Lights is developing an open and flexible infrastructure to transport
CO2 from industrial emitters by ship to a receiving terminal in western Norway
for intermediate storage, before being transported by pipeline for permanent
storage in a geological reservoir 2,600 meters under the seabed. Operations are
scheduled to start in 2024. The facilities are under construction and will
enable Northern Lights to offer a safe and reliable shipping and storage service
to industrial emitters from across Europe. With increased interest from
industrial sectors in Europe, additional shipping and storage capacity will be
developed as demand grows. Northern Lights JV DA is a registered, incorporated
General Partnership with Shared Liability (DA) owned equally by Equinor, Shell
and TotalEnergies.
Media contact:
Ivar Simensen, mob: +47 464 02 317 (http://tel:+47 464 02 317), email:
ivar.simensen@akerhorizons.com
Investor contacts:
Christian Yggeseth, mob: +47 915 10 000 (http://tel:+47 915 10 000), email:
christian.yggeseth@akerhorizons.com
David Phillips, mob: +44 7710 568279 (http://tel:+44 7710 568279), email:
david.phillips@akercarboncapture.com
Aker Carbon Capture is a pure-play carbon capture company with solutions,
services and technologies serving a range of industries with carbon emissions,
including the cement, bio and waste-to-energy, gas-to-power and blue hydrogen
segments. Aker Carbon Capture's proprietary, carbon-capture technology offers a
unique, environmentally friendly solution for removing CO\2\ emissions.
Visit akercarboncapture.com (https://www.akercarboncapture.com/) and connect
with us on LinkedIn (https://www.linkedin.com/company/aker-carbon
-capture), Facebook (https://facebook.com/akercarboncapture),
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YouTube (https://www.youtube.com/channel/UCqE71jAZxmM-CNhfUQq86kQ). This press
release may include forward-looking information or statements and is subject to
our disclaimer, see akercarboncapture.com (https://www.akercarboncapture.com/).