ESG today
Summary
Energy giants TotalEnergies, Equinor and Shell announced plans to invest NOK 7.5 billion (USD$714 million) to expand the Northern Lights carbon transportation and storage project in Norway, more than tripling the projects capacity from 1.5 million to more than 5 million tons of CO2 per year from 2028.
Stockholm Exergi is planning to build a bio-energy with carbon capture and storage (BECCS) facility at its bio-cogeneration plant at Värtan, Stockholm, bringing together a bioenergy-based combined heat and power plant fueled by residues from forestry, sawmill and pulp and paper production, with a carbon capture and storage process that captures CO2 in the plant’s flue gases, and cools and compresses it into liquid form, for transport and permanent storage. The company announced its final investment decision to proceed with the $1.3 billion project on Thursday. The facility has already attracted large-scale carbon removal offtake agreements with Microsoft and carbon removal coalition Frontier on behalf of buyers including Alphabet, Meta, JPMorgan Chase, and H&M, among others.
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