Oil and gas company Vår Energi has entered into a partnership with the Norwegian Carbon Capture & Storage Research Center (NCCS) to enable fast track CCS technology development and deployment.
Vår Energi said on Friday that the agreement has a total value of NOK 30 million ($3.5 million) over a six-year period and is part of an industry-driven and science-based innovation effort.
“This partnership complements Vår Energi’s research and development portfolio. The company is committed to reduce the emissions of greenhouse gases through CCS technology development,” said Oddvar Ims , R&D Manager in Vår Energi.
Vår Energi will contribute by investing 5 million NOK every year for a period of six years. The joint industry project started in 2017 and will continue until 2025.
“NCCS’ main objective is to become a world-leading CCS Center by enabling fast-track CCS technology development and deployment by addressing major barriers in industry projects,” Vår Energi said.
“It is a proud moment for NCCS to welcome Vår Energi to one of the largest CCS R&D efforts worldwide. Personally, I am sure Vår Energi will bring enlarged momentum to the center,” said Mona J. Mølnvik , NCCS director and Research Director at SINTEF.
CCS is considered to be one of the most promising solutions to effectively reduce emissions of greenhouse gases on a global scale, as a means of limiting atmospheric CO2 emissions. The NCCS consortium comprises several oil and gas companies, CCS technology vendors and users in the private and commercial sector. The joint industry project also consists of institutions such as SINTEF, NTNU, UiO, NGI and others.
“Our objective is to further minimize environmental impact in our operations, and reducing greenhouse gas emissions is a key element in our mission. The Vår Energi-operated Goliat field in the Barents Sea demonstrates this commitment by being mainly electrified with power from shore, making it one of the lowest CO2 emitting fields on the Norwegian continental shelf. All initiatives to reduce the carbon footprint are positive, and CCS deployment is an effective measure. We hope that our contribution in addition to others, will further enable NCCS’ progress,” Ims added.
This partnership supports the Norwegian full-scale CCS project. In addition to this, the center also supports its industry partners in developing the necessary knowledge for large scale CO2 storage in the Norwegian part of the North Sea basin.
“Supported by the Research Council of Norway and the partnership, NCCS will contribute to the development of cost and energy efficient CCS technologies, smart business models, and CCS deployment at large scale in Norway, Europe and globally,” said Mølnvik.