Steel giant ArcelorMittal joins a Norwegian project for capturing, transporting and storing CO2 in the North Sea. According to the initiators, Northern Lights, as the program is called, will be the first cross-border greenhouse gas storage project.
The major driver of Northern Lights is the Norwegian oil and gas company Equinor, which is working together with sector colleagues Shell and Total. ArcelorMittal, as a steel producer responsible for a lot of CO2 emissions, promises in a declaration of intent to help with the logistics behind the project. In addition, the group wants to further investigate the commercial possibilities of CO2 capture and storage.
The first test drilling for CO2 storage must take place before the end of this year. That happens in an area south-west of the Norwegian coast. Ultimately, it is intended that a large-scale reservoir for CO2 storage will be created there. ArcelorMittal expects to make decisions next year on investments in the project.