Hydro To Participate in Mongstad CCS Project
21 June 2007
Other partners in the project are the Norwegian Ministry of Petroleum and Energy, Statoil, Norske Shell, Dong Energy Generation and Vattenfall. The cooperation agreement regulates the planning and preparation phase of the test facility for capture of CO2 and will extend until an investment decision is made, expected in the first quarter of 2008.
The aim of the project is to gain knowledge and develop solutions which help to reduce the costs and the technical and financial risks of large-scale CO2 capture.
The initial carbon capture capacity will be about 100,000 tonnes per year starting in 2010, and Statoil will decide in 2012 whether or not to invest in a larger capture facility for Phase 2. If realized, Phase 2 would be fully operational by the end of 2014 with a capacity of more than 1.3 million tonnes of CO2 per year—the world’s largest CCS project of its kind.
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