According to a feasibility study undertaken by the nation’s oil and energy ministry, carbon dioxide from industrial plants could be captured, transported by ship and injected into offshore reservoirs at an affordable cost.
The high up-front cost of transport and storage facilities is one aspect of CCS that has kept the technology from being realized on a large scale, analysts have noted – but Norway says it could do it for between $515m and $915m within the projected timeframe.
However, the ministry noted that there is a 40 per cent uncertainty factor for these cost estimates.
The feasibility study focused on three Norwegian industrial plants – an ammonia production plant, a waste incinerator and a cement factory – from which CO2 could be captured and transported by ship and then by pipeline to an empty North Sea reservoir owned by oil giant Statoil.
Norway intends to include a CCS plan in its 2017 budget, slated to be released in October.