Energy
Monday, March 4th, 2024 3:48 pm EDT
Key Points
- Norway aims to demonstrate the feasibility of injecting and storing carbon waste beneath the seabed in the North Sea, potentially transforming it into a central storage hub for polluting industries across Europe.
- Offshore carbon capture and storage (CCS) technologies are being explored as a means to capture carbon from high-emitting activities, transport it to storage sites, and permanently sequester it under the seabed.
- While the Norwegian government and industry proponents tout CCS as a crucial tool in the fight against climate change, critics raise concerns about the long-term risks associated with offshore carbon storage, citing technical challenges and potential environmental hazards.
Norway is positioning itself as a pioneer in carbon capture and storage (CCS) technology, particularly emphasizing offshore carbon storage in the North Sea as a potential solution for Europe’s polluting industries. The government champions its Longship project, showcasing it as evidence of the viability of offshore CCS. With nearly 30 years of experience in carbon management, Norway highlights projects like Sleipner and Snøhvit as successful models. However, critics raise concerns about the long-term risks associated with storing carbon beneath the seabed, citing technical challenges and potential environmental hazards. Despite these reservations, Norway presses forward with the $2.6 billion Longship project, aiming to start carbon injections soon. The project, managed by the Northern Lights joint venture, has attracted significant interest, signaling growing momentum for CCS initiatives. While offshore storage presents advantages such as ample space and minimal public opposition, skeptics caution against overlooking potential risks and unintended consequences. As global interest in offshore CCS surges, debates over its efficacy and safety intensify, underscoring the complexity of addressing climate change through technological solutions.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/03/04/climate-change-norway-wants-to-store-carbon-under-the-north-sea.html
