EnergyWatch

Northern Lights gets green light on state FID

Oslo announces its support today of CCS project Northern Lights, also backed by Equinor, Shell and Total.

Photo: Staff/Reuters/Ritzau Scanpix

After putting the matter to vote in Norwegian parliament, the country's government approves the final investment decision (FID) for carbon capture and sequestration (CCS) project Northern Lights.

Explained briefly, the undertaking is part of project Longship, to which Norwegian governing parties reached an agreement in December entailing that the state will support the undertaking with 67 percent of the total required investment of NOK 25.1 billion (EUR 2.36 billion). This took place during state budget negotiations for 2021 – which is the same fiscal bill just ratified and thereby also includes North Lights.

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