Norway-based companies Höegh LNG and Aker BP recently entered a strategic partnership to develop a comprehensive carbon transport and storage (CCS) offer for industrial CO2 emitters in Northern Europe. The agreement combines the companies’ respective strengths, expertise, and technologies to establish a strong value chain for CCS on the Norwegian continental shelf, including gathering, transporting, and securely injecting carbon dioxide (CO2) for permanent storage in subsea reservoirs.
CO2 is a greenhouse gas (GHG) that has been directly linked to global climate change.
Höegh LNG is a pioneer within maritime energy infrastructure, providing countries and energy companies with rapid, flexible, and cost-efficient access to the global LNG (liquefied natural gas) market. It’s a leading innovator, owner, and operator of floating storage and regasification units (FSRUs) and LNG carriers (LNGCs). In addition to providing energy security, Höegh LNG vessels support the transition to renewables by providing reliable access to lower-carbon natural gas and a flexible infrastructure solution for delivering carbon-free energy.
For over 50 years, Höegh LNG has provided safe and reliable access to critical and cost-competitive LNG infrastructure. Its global organization consists of approximately 900 employees at sea and onshore, with half of its capacity deployed in Europe.
“Höegh LNG welcomes the opportunity to join forces with Aker BP and deliver a large-scale, one-stop-shop CCS value chain to industrial emitters before 2030. Together, we will provide market-leading solutions for decarbonizing at a low unit cost, contributing to the energy transition in Europe,” said Erik Nyheim, CEO of Höegh LNG.
Meanwhile, Aker BP is one of the largest independent oil companies in Europe, producing more than 450,000 barrels of oil equivalent per day. Aker BP is a global E&P (exploration, development, and production) leader in low CO2 emissions.
Moreover, Aker BP is engaged in exploration, field development, and oil and gas production on the Norwegian continental shelf. The company operates field centers in Alvheim, Ivar Aasen, Skarv, Edvard Grieg, Ula, and Valhall. The company is also a partner in the Johan Sverdrup license.
“We expect CCS to play a key role in transitioning to a low-carbon energy future. This partnership reflects our ambition to advance CCS solutions by combining Aker BP’s strengths in subsurface understanding and large-scale project development with Höegh LNG’s technical expertise in the LNG sector,” said Karl Johnny Hersvik, CEO of Aker BP.
By entering into this agreement, Aker BP and Hoegh LNG will collaborate as strategic partners to develop seaborne transportation and injection solutions for CO2. (Story and photos courtesy of Höegh LNG)