Latest news with #HafslundCelsio
Local Norway
2 days ago
- Business
- Local Norway
Norway launches flagship 34 billion kroner carbon capture project
Bearing the English name for the Vikings' wooden ships, the Longship project involves capturing carbon dioxide emitted from a cement plant, and later from an incineration plant. The CO2 will be transported by ship to a terminal on Norway's west coast, and then injected beneath the seabed for storage. The project has received significant financial support from the Norwegian state, which will cover 22 billion kroner ($2.2 billion) of the total estimated cost of 34 billion kroner for the installation and operation over the first 10 years. Norway has presented Longship as the "world's first full-scale value chain" for capture and storage of carbon, one of the greenhouse gases that cause climate change. "This is not just an important moment for Norway, it is a breakthrough for carbon capture and storage in Europe," Norwegian Energy Minister Terje Aasland said. For the capture component, the facility will be officially inaugurated Wednesday at a cement plant operated by Germany's Heidelberg Materials in Brevik, southeastern Norway. It will prevent 400,000 tonnes of CO2 from escaping into the atmosphere each year. Advertisement Another part of the project, the Hafslund Celsio waste incineration plant near Oslo, is also expected to capture 350,000 tonnes of CO2 a year starting in 2029. The liquefied carbon dioxide will be transported by ship to the Oygarden terminal near Bergen, where it will be injected into a pipeline to be stored 110 kilometres (68 miles) offshore in a saline aquifer 2.6 kilometres below the seabed. The terminal has been in place since last year as part of the Northern Lights project, led by oil giants Equinor, Shell and TotalEnergies, which claims to be "the world's first commercial CO2 transport and storage service". Also on Tuesday, Switzerland's government, known as the Federal Council, announced that it had signed an agreement with Norway on "carbon storage". Swiss Environment Minister Albert Rosti, who visited the Northern Lights project this week, said in a council statement that "carbon storage will be crucial for Switzerland on its path to net zero". "The agreement will allow Swiss CO2 to be stored in Norway and also enable both countries to trade negative emissions in a state-recognised framework," the council said. Swiss Environment Minister Albert Rosti, who recently visited the Northern Lights project, said "carbon storage will be crucial for Switzerland on its path to net zero". CCS technology is cited by the UN's Intergovernmental Panel on Climate Change (IPCC) as a way of reducing the carbon footprint of industries hard to decarbonise, but it remains complex and expensive. Without financial assistance, it is currently more profitable for industries to purchase "pollution permits" on the European carbon market than to pay for capturing, transporting and storing their CO2. The total global carbon capture capacity currently amounts to only about 50 million tonnes, according to the International Energy Agency, equivalent to just 0.1 percent of global annual emissions.
Wall Street Journal
01-04-2025
- Business
- Wall Street Journal
The Next Big Thing in Carbon Capture? Trash.
A group of technology companies is investing in a new form of carbon capture that aims to cut emissions from household waste in an effort to reduce landfill usage and to lower the amount of greenhouse gas emissions that are emitted into the atmosphere. Frontier, an umbrella group of tech companies including payments firm Stripe, internet giant Google and Instagram parent Meta is investing just under $32 million in a carbon-capture-and-storage project in Norway in the hope of removing 100,000 metric tons of carbon from the atmosphere between 2029 and 2030. Under the plan, carbon-dioxide emissions that are generated when trash from the Norwegian capital Oslo is burned to produce energy for heating will be captured and then stored under the North Sea. The initiative is part of a larger carbon-capture project known as the Northern Lights project. The project is being put together in conjunction with the Norwegian government and Hafslund Celsio—Norway's largest supplier of district heating—which runs the waste-to-energy site. At the site in Norway, household waste is sorted into fossil waste and biogenic waste. Fossil waste includes materials like plastics, which can't be broken down quickly. Biogenic waste includes trash that has come from organic sources, such as food scraps or garden waste. After sorting, the waste is then burned by Hafslund Celsio, with the energy created used to heat the city of Oslo. The company is retrofitting the plant with a carbon capture system to collect an estimated 90% of the emissions from burning. Those emissions are then compressed and shipped to be stored under the ocean floor, in massive caverns left from oil and gas exploration. By burning and storing the emissions from the biogenic waste, Hafslund Celsio creates high-value carbon removal credits, which it plans to sell to Frontier. Plants naturally draw down carbon dioxide, or CO2, from the atmosphere. When they are burned, the CO2 is released. But at the Norwegian incinerator, the carbon is immediately captured, and CO2 is thus taken out of the atmospheric cycle. When biogenic waste is sent to landfill, methane is emitted once it breaks down. Methane is much more potent in terms of its effect on global warming than CO2. Meanwhile, avoidance carbon credits are created by capturing the CO2 from burning the plastics and other products made from fossil fuels. This is because the emissions that would have been emitted from burning the plastics are largely avoided. That said, these credits are much lower in value because no carbon dioxide is actually removed through the process. The two main options of dealing with waste either involve landfiling or incineration, according to Hasan Muslemani, head of carbon management research at the Oxford Institute for Energy Studies. The issue with landfilling, he said, is that this eventually creates methane which is about 30 times worse for the atmosphere from a global warming potential. 'With incineration, CO2 directly enters the atmosphere—this is where CCS comes in. It brings the best of both worlds: no CO2 entering the air today or methane in the future. You are also producing low-carbon energy (electricity and heat) which can potentially be sold at a premium,' Muslemani said. This process could be replicated across 500 other sites in Europe alone, with places such as Germany and the U.K. particularly suited for waste-to-energy carbon capture, according to Frontier. By doing so, some 400 million tons of carbon dioxide could be removed from the atmosphere by 2050. The Frontier group of buyers was set up to scale carbon removal. Experts say that more than 10 billion tons of carbon will need to be removed from the atmosphere to help limit the effects of climate change. However, the carbon-removal market is very much in its early days and most technologies are limited in deployment, cashflow and maturity. Frontier says that by buying forward commitments for removal projects, it helps to provide finance and get the market off the ground. 'There are new technologies that exist in the lab or exist at small scales, and they're really expensive today, and there's a lot of technology risk,' said Hannah Bebbington, head of deployment for Frontier. The group says that by purchasing credits in advance it sends a signal to the market that there will be demand for carbon removals in the future. 'We will be the customer of the product if you build it to the spec that we're interested in,' Bebbington said. Norway is an ideal place to run a project like this, Muslemani said. The country has long had a carbon tax in place, incentivizing projects such as this one, and with the funding from the Norwegian and local governments, this helps to provide cash to get projects up and running. He added that similar projects in the U.K. could copy this, with the country eyeing carbon taxes and emissions trading schemes to provide incentives for this. In terms of revenue from the carbon credits, the removal credits could be sold for as much as $200 a ton while the avoidance credits for $20 a ton, which along with the green-energy production makes projects like this financially viable, Muslemani said. Write to Yusuf Khan at
Yahoo
28-01-2025
- Business
- Yahoo
SLB Capturi, Aker Solutions delivering carbon capture solution for Hafslund Celsio
SLB Capturi and Aker Solutions have been granted an engineering, procurement, construction, installation and commissioning (EPCIC) contract from Hafslund Celsio, to deliver a carbon capture solution at Halslund's waste-to-energy facility based in Klemetsrud, Oslo. Hafslund Celsio is one of the largest producer and supplier of district heating in Norway and supplied 25% of the district heating generated in the naition in 2023. The company's carbon capture project is part of Longship, Norway's full value-chain carbon capture and storage (CCS) project. This project is the second carbon capture plant within Longship, where SLB Capturi is already delivering the carbon capture plant at Heidelberg Materials' cement facility in Brevik, southern Norway, in collaboration with Aker Solutions. Kjetel Digre, CEO of Aker Solutions, said in a statement that the collaboration 'marks a significant milestone for Aker Solutions and the CCS industry in Norway.' Aker Solutions recently signed a partnership agreement with Vår Energi, to provide maintenance and modification services for assets and projects on the Norwegian Continental Shelf (NCS). The contract includes the delivery of a carbon capture plant, liquefaction system, temporary storage and a loading facility at the waste incineration site. It also includes an intermediate CO2 storage and ship-loading system at Oslo harbour. From here, the CO2 will be transported to the Northern Lights permanent storage facility on the NCS. The new carbon capture plant is forecast to capture 350,000 metric tonnes of CO2 annually. The EPCIC contract follows a cost reduction phase for Hafslund Celsio's project, which identified opportunities for efficiencies. The project will now be delivered based on SLB Capturi's modularised Just Catch 400 unit. Egil Fagerland, chief executive officer, SLB Capturi, said 'standardisation and modularisation play a key role in shifting the economics of carbon capture projects.' 'We are extremely proud of our collaboration with Hafslund Celsio and Aker Solutions to align our Just Catch plant design with the techno-economic requirements of this project to help make it a reality,' he added. "SLB Capturi, Aker Solutions delivering carbon capture solution for Hafslund Celsio" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Associated Press
27-01-2025
- Business
- Associated Press
SLB Capturi and Aker Solutions Win Contract To Deliver Carbon Capture Solution for Hafslund Celsio
SLB (NYSE: SLB) today announced that SLB Capturi, in collaboration with Aker Solutions, has been awarded an engineering, procurement, construction, installation and commissioning (EPCIC) contract from Hafslund Celsio AS to deliver a carbon capture solution at its waste-to-energy facility in Klemetsrud, Oslo. Hafslund Celsio is Norway's largest district heating supplier and the owner and operator of Norway's largest waste-to-energy plant. Hafslund Celsio's carbon capture project is part of Longship, the Norwegian Government's full value-chain carbon capture and storage (CCS) project. The contract award includes delivery of a carbon capture plant, liquefaction system, temporary storage, and a loading facility at the waste incineration site. It also includes an intermediate CO2 storage and ship loading system at Oslo harbor, from where the CO2 will be transported to the Northern Lights permanent storage facility on the Norwegian continental shelf. When operational, the carbon capture plant is expected to capture 350,000 metric tons of CO2 annually. The EPCIC award follows a cost reduction phase for Hafslund Celsio's project, which identified opportunities for efficiencies, including layout optimization. The project will now be delivered based on SLB Capturi's modularized Just Catch™ 400 unit. The space-efficient Just Catch design has been fundamental to enabling a viable, cost-effective solution by reducing onsite footprint, installation, and outfitting work. 'Standardization and modularization play a key role in shifting the economics of carbon capture projects,' said Egil Fagerland, chief executive officer, SLB Capturi. 'We are extremely proud of our collaboration with Hafslund Celsio and Aker Solutions to align our Just Catch plant design with the techno-economic requirements of this project to help make it a reality. We look forward to delivering this flagship project as a successful blueprint for industrial decarbonization projects in Norway and across the globe.' Hafslund Celsio's project is the second carbon capture plant in Longship, where SLB Capturi is already delivering the carbon capture plant at Heidelberg Materials' cement facility in Brevik in collaboration with Aker Solutions. 'Today marks a significant milestone for Aker Solutions and the CCS industry in Norway. We are proud to be part of this key project and look forward to contributing with our effective project execution, based on three decades of experience in the CCS market. This project is a testament to important public and private collaboration to build an industrial value chain for carbon capture and storage. The project will also significantly contribute to reducing emissions and will create value for both industry and society,' said Kjetel Digre, CEO for Aker Solutions. 'We are pleased to have Aker Solutions and SLB Capturi collaborating with us on this significant industrial project,' stated Martin S. Lundby, chief executive officer at Hafslund Celsio. 'Working with reputable partners who possess extensive experience in carbon capture and storage from the Longship project provides us with security and strength. Our partners bring valuable expertise from large industrial developments both in Norway and internationally. Together, we will construct a carbon capture solution that is expected to be operational by third quarter 2029.' About SLB SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at About SLB Capturi SLB Capturi is a joint venture between SLB and Aker Carbon Capture, dedicated to carbon removal and reduction solutions. The company's proven modular technologies enable industries to deploy capture technology at speed and scale, meeting the requirements of tomorrow and the opportunities of today. The company is currently delivering seven carbon capture plants to bioenergy, waste to energy, and cement facilities. Find out more at About Aker Solutions Aker Solutions delivers integrated solutions, products and services to the global energy industry. The company enables low-carbon oil and gas production and develops renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution Aker Solutions aims to accelerate the transition to sustainable energy production. Find out more at About Hafslund Celsio Hafslund Celsio AS is the largest producer and supplier of district heating in Norway and supplied 25 % of the district heating generated in Norway in 2023. In 2024, the company produced 1.9 TWh of district heating. Hafslund Celsio's waste-to-energy plant at Klemetsrud, Oslo, is Norway's largest with a capacity to end-treat 350,000 tonnes of waste per year. The company is also expanding its activities to district cooling. The company employs approximately 232 people. Hafslund Celsio is owned by a Norwegian investor consortium comprising Hafslund (60%), Infranode (20%) and HitecVision (20%). Media Josh Byerly – SVP of Communications Moira Duff – Director of External Communications SLB Tel: +1 (713) 375-3407 Email: [email protected] Investors James R. McDonald – SVP of Investor Relations & Industry Affairs Joy V. Domingo – Director of Investor Relations SLB Tel: +1 (713) 375-3535 Email: [email protected] Cautionary Statement Regarding Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as 'expect,' 'may,' 'can,' 'estimate,' 'intend,' 'anticipate,' 'will,' 'potential,' 'projected' and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB's new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB's strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise. View original content here.
Reuters
27-01-2025
- Business
- Reuters
Norway resumes work on Oslo waste carbon capture project
OSLO, Jan 27 (Reuters) - A project to capture carbon emissions from a waste plant in Norway's capital restarted on Monday following a two-year hiatus to rein in development costs, its operator said. Engineering group Aker Solutions ( opens new tab separately announced that it had won what it called a substantial contract, valued at up to 4.0 billion Norwegian crowns ($355.72 million) as part of the development. The heavily subsidised project in Oslo's Klemetsrud district was halted in April 2023 amid projections of large cost overruns and has since been re-designed, while the city council also approved the new cost structure. It is now expected to cost a maximum 9.5 billion Norwegian crowns, around 1 billion less than when it was paused in 2023, operator Hafslund Celsio, said in a statement. Of this, 5.1 billion crowns were provided by the Norwegian government and the city in investment and start-up grants as well as support for operations, transport and permanent storage in the contract period, the company added. Hafslund Celsio, Norway's largest district heating operator, is owned by utility Hafslund and investment funds Infranode and HitecVision. The facility is expected to be operational by the third quarter of 2029 and will remove 350,000 tonnes of CO2 annually, cutting nearly 20% of the city's remaining fossil emissions. The CO2 captured at Klemetsrud is part of Norway's prestigious Longship carbon capture and storage (CCS) plan, which also includes carbon capture at a cement plant and the Northern Lights transport and storage project. Northern Lights officially opened in September, but has yet to receive any CO2 deposits. Oil and gas-rich Norway is betting big on fledgling carbon capture and storage (CCS) technology as a way to reduce CO2 emissions both at home and abroad.
