Horisont Energi, Neptune Energy in Carbon Capture and Storage Deal With E.ON
February 20 2023 - 4:13AM
Dow Jones News
By Dominic Chopping
Norwegian clean-energy and carbon-storage services provider
Horisont Energi AS said Monday that, alongside oil-and-gas company
Neptune Energy, they have signed a memorandum of understanding with
E.ON SE to develop a European carbon capture and storage value
chain.
The companies said the agreement covers several areas such as
the development, financing and funding of a complete value chain
for carbon dioxide handling.
The intention is for Horisont Energi and Neptune Energy's
planned development of the Errai carbon capture and storage project
in Norway to be the first joint project under the agreement,
subject to governmental approval.
"Our cooperation with E.ON and Neptune Energy is already strong.
Through this MoU we are expanding the cooperation to include three
experienced energy companies," Horisont Energi Chief Executive
Bjorgulf Haukelidsaeter Eidesen said.
"Together we will strengthen our position to establish a
European CCS value-chain business. In case of license award of
Errai, a possible direct participation by E.ON would further
strengthen the commercial basis for this project."
The Errai project was initiated by Horisont Energi in 2021 and
could store 4-8 million tons of carbon dioxide annually, with the
potential to store more in later phases.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
February 20, 2023 03:58 ET (08:58 GMT)
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