EnergyWatch

Oil majors form CCS pact

Equinor joins Total and Shell in signing an international agreement on CO2 capture and sequestration. The Norwegian state pledges project funding. 

Photo: Jørgen Bratland / PR / Equinor

Thursday, Equinor signed a Memorandum of Understanding (MoU) with seven other European industrial firms regrading a CO2 capture and sequestration (CCS) project in the North Sea.

The companies' bosses are counting on this being the first step in turning CCS into a profitable business. Equinor is leading the efforts, which also include Total and Shell, and is also pleased to welcome other players into the collaboration. These oil companies are banking on CCS becoming a lucrative long-term investment, as soon as the low-hanging fruit have been plucked.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted aims to be number one on carbon capture

The utility hopes to win the Danish carbon capture and storage tender with a plan to capture 400,000 tonnes of CO2 by 2025 from the company’s biomass-fired combined heat and power stations.

Nordex downgrades forecast

The German turbine manufacturer has had a rougher start to 2022 so far than expected, prompting the company to downgrade guidance by EUR 200m at minimum.

Further reading

Related articles

Latest News

See all jobs