Fortum Welcomes Norwegian CCS Funding Promise
Finnish state utility Fortum welcomed Norwegian government's announcement that it would part-fund the inclusion of a waste facility in Oslo if the European Union contributed funding to Norway's Longship carbon capture and storage (CCS) project.
“This is good news for everyone dedicated to realising CCS in Norway,” said Fortum September 23. “We had of course hoped for full funding, but despite the fact that full funding is not granted now, we are pleased that the government is willing to contribute to part-financing of our CO2-capture project with a concrete and significant amount: Nkr 3bn ($314mn). The decision demonstrates that the government believes that Fortum Oslo Varme's project is important, both for the climate and for the realization of carbon capture in an industry with large emission points.”
Fortum said it was "already in the process of applying for the EU Innovation Fund, and it is important that the EU sees that our project has the backing of the Norwegian government."
Longship could be Europe's first full value chain CCS project, collecting third-party emissions for piping offshore and reinjection permanently in a saline aquifer a few kilometres under the seabed. That part of Longship is called Northern Lights, and is run by three European companies: Shell, Total and host Equinor. The anchor client is Heidelberg cement works. also in Norway. The government still needs parliamentary approval for funds. The whole project, excluding the Finnish plant. is valued at NKr 25.1bn, of which the government is to pay Nkr 16.6bn.