Norway to allocate 1.3 billion NOK to CCS

Norway to allocate 1.3 billion NOK to CCS

Today the Norwegian Minister of Finance has confirmed state support for full-scale carbon capture and storage (CCS) in the 2017 official budget announcement. Norwegian government proposes to allocate 1.3 billion NOK (about €130 million) for CO2 management activities.

As reported by the Technology Centre Mongstad (TCM) the 2017 state budget for CO2 management activities will be distrubuted to:

NOK642 million to Technology Centre Mongstad (TCM). The grant covers the State's share of operating costs and investments at the plant and expenses for amortization and interest on loans to the company.

NOK360 million to further studies of full-scale demonstration plants for CO2 capture in Norway. The conceptual studies will optimize the technical solutions as well as reduce risk and establish more precise cost estimates for the projects. The aim of this work is to establish a basis for an investment decision in autumn 2018.

NOK200 million to CLIMIT. The program provides support for research and demonstration of technologies for CO2 capture.

NOK107 million in administration grants to Gassnova which manages the State's interests related to CO2 management, including follow-up of Technology center for CO2 capture at Mongstad. (Source: TCM)

For more information on the 2017 budget announcement please refer to the official Norwegian Government website