Norway´s Höegh LNG owner and Aker BP team up on carbon transport and storage solutions.

The owner Höegh LNG of FSRUs and LNGCs has sealed a deal with oil and gas company Aker BP to develop carbon transport and storage (CCS) offering for industrial CO2 emitters in northern Europe.

The two companies will combine their strengths, expertise, and technologies to establish a “strong value chain”, as it is said, for CCS on the norwegian continental shelf that includes gathering, transporting and securely injecting CO2 for permanent storage in subsea reservoirs. 

The partners will join forces in the technical and commercial development. Specifically, Höegh LNG will spearhead the further development of their concept of floating CO2 storage units (FCSO), enabling purification and aggregating CO2 from multiple emitters in key export hubs.

Such units will make it possible to offer cost efficient solutions also to smaller emitters that would otherwise not be able to develop solutions on their own, as Höegh LNG claims.

The liquified CO2 will be transported by CO2 shuttle tankers at low pressure that results in larger transportation capacity and lower CO2 unit cost due to scale.

Aker BP will lead the development of offshore injection facilities and identify suitable subsea reservoirs for CO2 storage.

Furthermore, Höegh LNG and Aker BP will work together to unlock potential new business opportunities for CO2 transportation and storage solutions, within the norwegian continental shelf, for CO2 captured from multiple identified industrial emitters in North-West Europe.

In accordance with Karl Johnny Hersvik, chief executive of Aker BP, it is expected CCS to play a key role in the transition to a low-carbon energy future.