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If climate goals are to be achieved, it is not enough to reduce emissions quickly. According to all climate models and scenarios, there must also be some form of carbon dioxide capture and storage, the so-called Carbon Capture and Storage, CCS.
On Monday, the Norwegian government announced that it plans to invest heavily in CCS. They propose investments in a project for the storage of carbon dioxide in the rocky bed of the North Sea off the west coast of Norway, and a large-scale plant to capture carbon dioxide in a cement factory in Brevik, in the south from Norway. According to forecasts, each year 400,000 tons of carbon dioxide can be captured.
Another capture plant at Fortum’s heating plant in Oslo can be supported if they can contribute to the co-financing themselves.
In total, the investment is calculated, investments and operations, cost NOK 25.1 billion, which corresponds to just under SEK 24 billion, over a period of ten years. Under the plan, the state will account for 16.8 billion Norwegian crowns, just under 16 billion Swedish crowns.
– It is the largest climate project in history for Norwegian industry, says Minister of Oil and Energy Tina Bru to NRK.
As DN has previously written, a project in which Norway is investing to become a world leader in CCS has been running for some years. The planned storage space under the seabed is so large that it can contain carbon dioxide from all of Europe’s emissions, and the business idea is to attract other countries and stakeholders to participate.
Norway’s project is unique trying to find a large-scale model for carbon sequestration that works with different actors that are located at great geographical distances. The idea is that the captured carbon dioxide will be compressed into a liquid form and can be transported by ship to Norway.
Norwegian investment can also be of great importance to Sweden. When government researchers in January presented proposals on how Sweden should meet national climate goals of becoming carbon neutral by 2045 and after achieving negative emissions, carbon capture and storage was one of the solutions presented.
The investigation also made it clear that no storage within Swedish territory was relevant.
No particular country was mentioned at the time, but the research was conducted on a study visit to Norway.
For high emission industriesIn Sweden, as in the cement industry, refineries and heating plants, the decision can be of great importance. For example, Preem at Lysekil is already involved in an experimental part of the project when it comes to capturing carbon dioxide, and CCS is also relevant when it comes to the high-profile expansion of the refinery. At the Stockholm heating plant, a carbon dioxide capture test is also underway.
Prime Minister Erna Solberg points out in an interview with NRK that the state in CCS investment assumes a greater part of the risk and costs is what is common.
– Now we hope that other actors in Europe will follow suit and join the project, said the Prime Minister.
The formal decision on the investment will be made in December.
