Daily Newsletter

06 September 2023

Daily Newsletter

06 September 2023

Höegh LNG, Aker BP team up for carbon transport and storage

The two companies will combine their expertise, strengths, and technologies to establish CCS value chain.

Archana Rani September 05 2023

Norwegian company Höegh LNG has partnered with oil major Aker BP to create a fully comprehensive solutions for carbon transport and storage (CCS) for industrial CO₂ emitters in Northern Europe.

The two companies will develop seaborn transportation and injection solutions for CO.

As per the agreement, Höegh LNG and Aker BP will combine their expertise, strengths, and technologies to establish CCS value chain including gathering, transporting, and injecting CO for permanent storage in subsea reservoirs. 

Höegh LNG said the collaboration will allow it to lead further development of Floating CO₂ Storage Units (FCSO).

These units are expected allow purification and gathering of CO from several emitters in key export hubs.

In a press statement, Höegh LNG said: “Such units will make it possible to offer cost efficient solutions also to smaller emitters that would otherwise not be able to develop solutions on their own. The liquified CO₂ will be transported by CO₂ Shuttle Tankers at low pressure that results in larger transportation capacity and lower CO₂ unit cost due to scale.”

Aker BP will be responsible to lead the development of offshore injection facilities. It will also identify suitable subsea reservoirs for storage of CO.

Höegh LNG CEO Erik Nyheim said: “Höegh LNG welcomes the opportunity to join forces with Aker BP and deliver a large scale, one-stop shop CCS value chain to industrial emitters before 2030. Together we will provide market-leading solutions for decarbonizing at a low unit cost, contributing to the energy transition in Europe.”

Furthermore, Höegh LNG will work with Aker BP to unlock potential new business opportunities for transportation of CO captured from multiple industrial emitters in North-West Europe, and storage within the Norwegian Continental Shelf.

Aker BP CEO Karl Johnny Hersvik said: “We expect CCS to play a key role in the transition to a low-carbon energy future.

“This partnership reflects our ambition to advancing CCS solutions by combining Aker BP's strengths in subsurface understanding and large-scale project development with Höegh LNG's technical expertise in the LNG sector.”

AI - a critical tool to achieve net-zero emissions target

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