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IN BRIEF: TotalEnergies hits milestone at Northern Lights JV

26th Sep 2024 16:34

TotalEnergies SE - Paris-based oil and gas company - Updates on Northern Lights joint-venture project in Norway, with partners Shell PLC and Equinor ASA. Says carbon dioxide receiving and storage facilities are now complete, with Northern Lights now ready to receive and permanently store CO2 from European industry.

These facilities comprise a terminal to receive CO2 cargos, a 100-kilometre subsea pipeline to transport them to offshore storage, and subsea injection facilities for CO2 storage in a reservoir 2,600 metres below the seabed.

"This major milestone signals the readiness of the infrastructure to store CO2 and we look forward to receiving the first volumes from hard-to-abate emitters in 2025. This will bring a strong contribution to the decarbonization of European industry," says Arnaud Le Foll, Total's senior vice president of new business, Carbon Neutrality.

Current stock price: EUR58.99, down 2.8% in Paris on Thursday afternoon

12-month range: down 4.8%

By Elizabeth Winter, Alliance News deputy news editor, Global services

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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