Storegga Geotechnologies, a UK-based carbon capture and storage (CCS) solution provider, in partnership with Sval Energi, a Norwegian energy provider, and Neptune Energy, a UK-based oil and gas explorer, have secured their previously applied CO2 storage license to develop the Trudvang CCS project in the Norwegian North Sea.

The license was awarded by the Norwegian Ministry of Petroleum and Energy. The project will store up to nine million tons of CO2 per annum and will scale up to sequester 225 million tons per annum over the next 25–30 years.

Analyst QuickTake: Storegga, together with its two partners, began work on the Trudvang project in December 2021. Sval, the proposed operator of Trudvang, holds a 40% stake in the project, while Storegga and Neptune each hold 30%. The first CO2 injection of the project will be targeted in 2029.