24 November 2021
27th February 2023
Sval, Storegga and Neptune apply for a CO2 storage licence in the Norwegian North Sea. The project, called Trudvang, has the potential to store up to 225 million tonnes of CO2.
The application comes after the Norwegian Ministry of Petroleum and Energy on 11 January 2023 announced a new area in the North Sea for applications related to injection and storage of CO2.
Truls Olsen-Skåre, Senior Vice President Sustainability & HSEQ in Sval Energi, said: “Carbon capture and storage (CCS) is a solution that can significantly reduce CO2 emissions. The partners have worked jointly since December 2021 to identify, nominate, and apply for this licence. We have undertaken a substantial amount of work already, including subsurface evaluation of the storage complex, and technical and economic assessment of the CCS value chain. This work has shown that Trudvang can be matured into a commercially viable project with safe and efficient carbon storage.”
Significant storage resource
The Trudvang licence has a significant storage potential. It provides the potential to inject ca. nine million tonnes of CO2 per annum for 25 to 30 years – a total storage resource of at least 225 million tonnes of CO2. Dynamic modelling indicates that the total storage resource could, over time, increase beyond this than this.
Olsen-Skåre said: “In Europe, approximately 300 million tonnes of hard to abate CO2 is emitted each year. The Trudvang project has the potential to contribute to the storage of these emissions on a large scale.”
The Trudvang storage licence is located in the Norwegian North Sea, to the east of the Sleipner field and about 165 kilometers from the coast. The proposed storage reservoir is at in the Utsira formation.
Start in 2029
Olsen-Skåre said: “We will focus on accelerating all phases of the work programme to be able to start injecting CO2 in 2029, and we will continue our work with existing and new parties to mature the full value chain.”
The Trudvang project envisages the capture of CO2 by multiple industrial emitters in Northern Europe and the UK, the shipping of liquid CO2 from export terminals to an onshore receiving terminal in the south-west of Norway and then transport via a purpose-built pipeline to the Trudvang location for injection and permanent storage.
Nick Cooper, CEO of Storegga said: “CCS is essential, as one of the few technological solutions that can prevent CO2 emitted from industrial operations from entering the atmosphere and worsening climate change. Our Trudvang announcement today builds on Norway’s pioneering progress with the world’s first industrial-scale, multi-user CCS project. We look forward to continuing our work with Sval and Neptune to ensure that the Trudvang Project will have a significant impact on carbon emissions and a positive impact on the Norwegian economy.”
Sval is the proposed operator of Trudvang with a 40% ownership; Storegga and Neptune each have a 30% ownership.
Quick facts about the Trudvang partners:
Sval Energi is a Norwegian E&P company with operations on the Norwegian continental shelf. The business had a production of 70,000 net barrels of oil equivalent per day in 2022. Sval Energi is committed to emission reductions aligned with the targets set by Offshore Norge of 50 percent reduction by 2030 and net-zero by 2050, with CCS as a tool in its decarbonisation strategy.
Storegga is an independent, UK-based decarbonisation development business, dedicated to reducing and removing the harmful impacts of CO2 in the atmosphere. Storegga develops early-stage carbon capture and storage (CCS) and hydrogen projects in the UK and internationally to contribute to achieving net zero targets.
Neptune Energy is an independent global E&P company with operations across Europe, North Africa, and Asia Pacific. The business had production of 130,000 net barrels of oil equivalent per day in 2021. Neptune aims to store more carbon than is emitted from its operations and the use of its sold products by 2030.
For further information, please contact:
Sval Energi AS:
Tom Gederø, VP Communications
Mobile: (+47) 922 47 082
Storegga Norge AS:
Dentons Global Advisors
Mobile: +44 20 7664 5086
Neptune Energy Norge AS:
Liv Jannie Omdal, Head of Communications & Public Affairs
Mobile (+47) 976 67 137