Shell: invests in Northern Lights project

(CercleFinance.com) - Shell, Equinor and Total have announced that they have decided to invest in the Northern Lights project, on the first operating license in Norway for the storage of CO2 on the Norwegian continental shelf.


The project's development and operating plans have been submitted to the Norwegian Ministry of Petroleum and Energy. The final investment decision depends on the Norwegian authorities' decision and approval from the EFTA Surveillance Authority.

Depending on a favourable decision from the Norwegian government in 2020, phase 1, which includes the capacity to transport, inject and store up to 1.5 million tonnes of CO2 per year, is expected to start in 2024.


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