The Global CCS Institute has today welcomed Total, Equinor and Shell’s investment to move ahead Norway’s flagship CO2 transport and storage project.

Earlier this week, gasworld reported that the three companies has announced plans to invest almost $6.9bn in the project that will help the company reduce its carbon emissions.

Equinor, Shell and Total make major CCS investment

“This positive decision is not only a step in the right direction for CCS but also pushes ahead an urgently needed solution for European industrial emissions,” said Brad Page, CEO of the Global CCS Institute.

“The FID by the Government of Norway is expected later this year and will be among the last steps before the project can break ground.” 

“We are, of course, hoping for a green light from the Government so this important flagship project can be built as a successful example of leveraging public-private partnerships for innovative decarbonisation through CCS. This project is of utmost global importance”

Once complete, the project could potentially capture up to 5 million tonnes of CO2, will boost European CCS efforts and accelerate progress towards meeting Europe’s climate neutrality goals.