Dow Jones Newswires: TotalEnergies’s carbon storage venture gets first customer

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TotalEnergies SE on Monday said that its carbon dioxide capture and storage venture, Northern Lights, has secured its first commercial agreement from Yara International ASA.

Starting in early 2025, 800,000 tons of carbon dioxide a year from Yara’s YAR, -0.55% Sluiskil ammonia and fertilizer plant will be captured, compressed, and liquefied in the Netherlands before being transported and permanently stored more than two kilometers under the seabed off the coast of Norway, the French energy company said.

Northern Lights is a CO2 storage venture owned in equal shares by TotalEnergies TTE, -0.28%, Equinor ASA EQNR, +0.12% and Shell PLC SHEL, +0.58%. It allows for the transportation and storage of CO2 emissions from European industry to boost the continent’s decarbonization initiatives, TotalEnergies said.

The venture’s Phase 1 installations are expected to be operational by 2024 and will have the ability to handle 1.5 million tons of CO2 a year. In future expansions, its capacity could increase to up to 5 million tons a year, TotalEnergies said.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

This article was originally published by Marketwatch.com. Read the original article here.

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