On the opening day of European Hydrogen Week , Northern Lights and Yara International sign a binding commercial transport and warehousing agreement with the ambition to get and store 800,000 tonnes of CO2 from the ammonia production in Sluiskil protrude in 2025 . In August 2022 , the parties correspond on the main terms , representing the reality ’s first commercial CCS agreement . The CO2 will be liquefied and shipped from the Netherlands to lasting storage on the Norse Continental Shelf by Northern Lights .
“ This is a milestone for decoke hard - to - abate industry in Europe , and for Yara , it ’s an important footstep towards decarburize our ammonia output , merchandise line , and the food - value chain at large , ” says Svein Tore Holsether , chief operating officer of Yara International .
“ We are very pleased that Yara has selected Northern Lights as CO2 transportation and storage supplier . This commercial correspondence gives us the chance to further apply the mental ability at our storage site below the North Sea . It confirms the commercial potential for CCS and demonstrates that the market for transport and storage of CO2 is evolve speedily ” , say Børre Jacobsen , Managing Director of Northern Lights .
CCS is cardinal to decarburise backbreaking - to - abate industries in EuropeIn the roadmap to meshing zero by 2050 , update in September 2023 , the International Energy Agency estimates that carbon capture and storage will account for 8 % of the cumulative emissions reductions globally . According to the IEA , if all announced CCS labor are realize , global carbon seizure capacity could reach net zero levels by 2030 .
As the European Commissioner for Energy Kadri Simson stated during the CCUS Forum in Oslo last year , “ without CCS and CCU , it will be much inconceivable to limit the orbicular warming to the 1.5 degrees Celsius object lens ” . CCS provides European diligence with a realistic decarbonization root to reduce mood emissions . The agreement between Northern Lights and Yara contributes to kickstarting a commercial-grade mart for CCS avail in Europe .
“ Norway can provide Europe with significant CO2 storage , which will help the EU reach their climate targets . It is a dependable and efficient way to cover emission , and this understanding demonstrates that ” , say Børre Jacobsen , Managing Director of Northern Lights .
For more information : northerly LightsTel . : +47 917 55 228[email protected]norlights.com
