WESTHILL, United Kingdom and STAVANGER, Norway, March 31, 2023 (GLOBE NEWSWIRE) -- Altera Infrastructure and its partner Wintershall Dea are delighted to announce that the Norwegian Ministry of Petroleum and Energy has awarded the partnership a license to develop the Havstjerne CO2 storage in the North Sea.
The storage, with an annual capacity estimated at 7 million tonnes per annum (Mtpa), is located 100 kilometers southwest of Egersund, Norway.
Carbon Capture and Storage (CCS) development represents a major step forward in the global battle against climate change and the Havstjerne license award reinforces Altera Infrastructure’s commitment to sustainable energy solutions. Ingvild Sæther, CEO of Altera Infrastructure Group Ltd. stated:
“We are pleased that the Norwegian Ministry of Petroleum and Energy has made CO2 storage available for the industry. CCS as a decarbonisation strategy is expected to expand and grow significantly in Europe the coming years, so this is only the beginning. The world needs CCS on a massive scale, and we are proud to be part of the solution. Together with our strong partner Wintershall Dea, we are ready to do our part in leading the industry towards a sustainable future.”
Altera is now taking a significant step forward in our commitment to providing value and service to our CCS customers. By taking a more hands-on approach to the reservoir, we can ensure greater control over the entire value chain.
The partnership leverages decades of experience from the offshore energy industry and is already engaged in advanced discussions with CO2 emitters and ports in the Baltics, the Netherlands, Portugal and Spain. One competitive advantage of this maritime solution is its flexibility, which enables the deployment of CCS technology in other regions as the market and regulatory environment continue to evolve.
Johanne Koll-Hansen Bø, Vice President and Head of CCS commented:
“We have been working on our maritime CCS concept Stella Maris for many years, and with the storage license now in place, we are ready to develop and realize a large-scale integrated CO2 infrastructure solution to customers across Europe.”
Altera Infrastructure’s large-scale Stella Maris CO2 infrastructure concept will provide a complete value chain, from CO2 collection, transport and injection to safe and permanent storage on the Norwegian Continental Shelf. Havstjerne, the first phase of this value chain, includes multiple collection hubs across Europe and large shuttle tankers for CO2 transportation to safe and permanent storage.
“We are proud of the trust that the Norwegian Ministry of Petroleum and Energy places in our expertise and our ability to contribute to reaching Europe’s climate goals. We are working intensively on delivering the infrastructure Norway needs to become a hub for European carbon storage,” said Hugo Dijkgraaf, Chief Technology Officer at Wintershall Dea.
About Altera Infrastructure L.P.
Altera Infrastructure L.P. is a leading global energy offshore services provider, focused on supplying critical infrastructure assets to its customers in the North Sea, Brazil, and the East Coast of Canada. Altera’s fleet of 37 vessels includes floating production, storage and offloading units, shuttle tankers, floating storage and offtake units, long-distance towing and offshore installation vessels and a unit for maintenance and safety. The majority of Altera’s fleet is employed on medium-term, stable contracts.
About Wintershall Dea:
Wintershall Dea is Europe’s leading independent natural gas and oil company with more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 11 countries worldwide in an efficient and responsible manner. With activities in Europe, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business.
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For more information on Stella Maris CCS, see alterainfra.com/what-we-do/ccs
Contact Details:
| Media contact: | media@alterainfra.com |
| Altera Infrastructure IR: | investor.relations@alterainfra.com |
