Baker Hughes and Horisont Energi sign MoU for offshore Barents Sea CCTS project

23 Mar 2021

Baker Hughes and Horisont Energi AS have signed a memorandum of understanding (MoU) for the Polaris carbon storage project off the northern coast of Norway.

Under the agreement, the two companies will explore the development and integration of technologies to minimise the carbon footprint, cost and delivery time of carbon capture, transport and storage (CCTS).

This agreement further reinforces Baker Hughes’ and Horisont Energi’s own commitments to decarbonising the energy industry.

Horisont Energi's Polaris offshore carbon storage facility is part of its Barents Blue project, which is the first global and full-scale carbon neutral 'blue' ammonia production plant.

The Polaris project is expected to have a total carbon storage capacity in excess of 100m tonnes, which is equivalent to twice Norway’s annual greenhouse gas emissions.

Currently at the concept phase, the facility is expected to enter the construction phase in the second half of 2022.

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