Höegh LNG, a Norwegian LNG carrier and FSRU (Floating Storage and Regasification Unit) operator, has established a strategic partnership with Aker BP, a prominent oil major. Together, they aim to create a comprehensive carbon capture and storage (CCS) offering for industrial CO2 emitters in Northern Europe, marking a significant step towards decarbonization efforts.

Under this partnership, Höegh LNG and Aker BP plan to leverage their respective strengths, expertise, and technologies to build a robust CCS value chain on the Norwegian Continental Shelf. This integrated chain encompasses the collection, transportation, and injection of CO2 into subsea reservoirs for permanent storage.

Erik Nyheim, CEO of Höegh LNG, expressed enthusiasm about collaborating with Aker BP to deliver a large-scale CCS value chain by 2030. This partnership intends to provide cost-effective solutions for industrial emitters, contributing significantly to Europe's energy transition.

Karl Johnny Hersvik, CEO of Aker BP, emphasized the pivotal role of CCS in the transition to a low-carbon energy future. He highlighted that this collaboration aligns with their ambition to advance CCS solutions by combining Aker BP's expertise in subsurface understanding and large-scale project development with Höegh LNG's technical proficiency in the LNG sector.

As part of their joint effort, Höegh LNG will lead the development of Floating CO2 Storage Units (FCSO), a concept designed to purify and aggregate CO2 emissions from multiple sources in key export hubs. These units are intended to offer cost-efficient solutions to smaller emitters that may face challenges in developing their own CCS infrastructure.

The plan involves transporting liquefied CO2 via CO2 shuttle tankers, utilizing low-pressure methods to maximize transportation capacity and reduce the unit cost of CO2 due to economies of scale. Aker BP will take the lead in developing offshore injection facilities and identifying suitable subsea reservoirs for the long-term storage of captured CO2.

Commercially, Höegh LNG and Aker BP will collaborate to explore new business opportunities related to CO2 transportation and storage solutions within the Norwegian Continental Shelf. Their focus is on capturing CO2 emissions from various industrial emitters in North-West Europe, thus reinforcing their commitment to advancing seaborne transportation and injection solutions for CO2.

Through this strategic partnership, Aker BP and Höegh LNG are at the forefront of developing innovative solutions to tackle emissions and contribute to a more sustainable future.