French oil company will “bury” CO2 at the bottom of the sea

The North Sea is suitable for this type of project, as its subsoil has the necessary geological characteristics and, in the region, there are numerous gas pipelines and waste storage sites.

Licenses granted to the French oil company Total Energy they cover an area of ​​more than 2.000 km2, around 250 kilometers off the west coast of Denmark.

A carbon capture and storage (CCS, its acronym in English) is still an expensive and incipient venture that seeks to “bury” this gas that contributes to the global warming. Oil companies and heavy industry are major emitters of CO2.

A Total Energy will have an 80% stake in this project, called Bifrost, together with the public company Nordsøfonden, which will control 20%.

No data on the cost or financing of this project was disclosed.

“The Danish underground opens the doors to a new green commercial adventure with a clientele across Europe,” said Climate and Energy Minister Lars Aagaard.

“The industrialization of storage of CO2 it means it will be less expensive to achieve our climate goals,” he added, referring to Denmark’s goal of becoming carbon neutral by 2045.

(To AFP)

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