CarbonVault joining North Sea carbon capture and storage project

TotalEnergies E&P Denmark has entered a farm-down agreement concerning the Bifrost carbon capture and storage (CCS) project in the Danish North Sea.

This would involve CarbonVault, the Danish affiliate of German cement producer Schwenk, taking a 35% interest in the project, which comprises two offshore storage licenses. These cover a 2,118-sq-km area, 200 km west of Denmark, that includes the declining Harald West and East fields and the Dagny saline aquifer.

TotalEnergies would retain a 45% operated interest, with state-owned Nordsøfonden owning the remaining 20%.

The partnership aims to establish Bifrost as a European hub for CCS, transporting and injecting CO₂ emitted from various (mainly northern European) industrial hubs via ships and pipelines to the storage site in the Danish North Sea.

Under the planned first phase, injection of CO₂ will start before 2030 with a minimum storage capacity of 5MM t/year.