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Norway to spend $1.8 bln on world's first full-scale CCS chain

Mon, 21st Sep 2020 11:05

OSLO, Sept 21 (Reuters) - The Norwegian government said on
Monday it would finance 16.8 billion Norwegian crowns ($1.83
billion) out of the total investment cost of 25.1 billion crown
cost for what could be the world's first full-scale carbon
capture and storage project.

Now baptised "Longship" , the project will see the
government fund the transport and storage project Northern
Lights, a joint project between European oil majors Equinor
, Shell and Total.

It would also finance a carbon capture at a cement factory
in southern Norway operated by Heidelberg Cement and a
waste incineration facility in Oslo operated by Fortum
- if the latter can find external financial support.
(Reporting by Nora Buli, editing by Gwladys Fouche)

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