Horisont’s Gismarvik CO2 Hub Receives EU Project of Mutual Interest Status

Source: www.gulfoilandgas.com 4/29/2024, Location: Europe

Horisont Energi’s (EURONEXT: HRGI) Gismarvik CO2 Hub has been included in the EU list of Project for Mutual Interest (PMI) as part of the European Nautilus CCS network.

“This is a validation of the potential of this network to contribute to creating a European CCS market and support EU’s energy and climate targets. The Nautilus CCS network involves close cooperation between several leading CCS companies and will open access to public support programs designed to support an acceleration of the energy transition,” says Bjørgulf Haukelidsæter Eidesen, Co-CEO of Horisont Energi.

The so-called PMIs are cross-border energy infrastructure projects between the EU and non-EU countries, with a purpose to fast-forward the energy transition through more integrated energy systems. These projects will support rapid decarbonization, electrification and increased production of renewable energy. All PMI projects are subject to a mandatory sustainability assessment.

“The PMI status is a recognition of the Gismarvik CO2 Hub and its part in decarbonizing Europe together with leading energy and CCS companies in the Nautilus CCS network. We will continue our work to develop a European CCS market through industrial partnerships and by leveraging the EU frameworks and funding programs to expedite the green transition”, says Haukelidsæter Eidesen.

Horisont Energi is developing the Gismarvik CO2 Hub into a large-scale, cost and energy-efficient fit-for-purpose terminal concept. The terminal offers an efficient logistic solution for multiple carbon storage licenses, and with a capacity of up to 24 million tons per annum it is the largest planned CO2 terminal in Norway and among the largest in Europe. The terminal is strategically situated by the North Sea in a promising carbon storage area southwest of the Norwegian coast in Rogaland.

The Nautilus PMI project is one of 14 CO2 network projects established to create a market for CCS and bring together several infrastructure initiatives including export hubs. The project encompasses the development of pipeline transport and a terminal in Dunkirk in France, CO2 infrastructure including potential repurposing of existing pipelines in Normandy, the creation of a multimodal hub in Duisburg in Germany, and connections via shipping to CO2 storage sites in the North Sea. The Gismarvik CO2 Hub in Norway is planned as a receiver for large CO2 vessels that can carry either low- or medium-pressure CO2 and will include a terminal and injection service to transport CO2 from the terminal to permanent sequestration offshore.

The Governments of Norway, Denmark, Sweden, Belgium, and the Netherlands earlier in April concluded international arrangements on transport and storage of carbon across borders, which was crucial for the commercialization of CO2 transport and storage on the Norwegian continental shelf.

The Gismarvik CO2 Hub terminal is a part of Horisont Infra, as subsidiary of Horisont Energi established to facilitate pure-play partnerships within mid-stream carbon storage infrastructure. Horisont Energi has previously entered into an MOU with Koole terminals to develop CCS opportunities and signed a term sheet with E.ON for CO2 volume deliveries to sequestration. The Gismarvik CO2 Hub will have all necessary infrastructure in place to become an aggregator for international and local CO2 customers, including power and water access and a deep-sea water harbor basin, and is currently undergoing a permitting process.


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