USA/Norway – Baker Hughes and Horisont Energi AS have signed a memorandum of understanding (MoU) for the Polaris carbon storage project off Norway’s northern coast.
The two companies will investigate the production and incorporation of technology to reduce the carbon footprint, cost, and distribution time of carbon capture, transport, and storage (CCTS) under the terms of the agreement. This agreement enhances Baker Hughes’ and Horisont Energi’s efforts to decarbonizing the energy industry.
100 million tons of storage
The Polaris offshore carbon storage facility is part of Horisont Energi’s “Barents Blue” initiative, and is the world’s first full-scale carbon-neutral “blue” ammonia processing plant. The Polaris project would have a gross carbon storage capacity of more than 100 million tons, which is equal to twice Norway’s annual greenhouse gas emissions.
The facility, which is currently in the development phase, is scheduled to reach the construction process in the second half of 2022. Polaris strives to have the lowest carbon storage cost in the world as part of its ultimate targets, opening the way for viable CCTS facilities that are not dependent on government subsidy schemes.
Baker Hughes and Horisont Energi will collaborate not only on the Polaris offshore carbon storage facility, but also on the development of processes and innovations around the carbon capture value chain, including:
- Carbon footprint reduction in the well construction and subsea segments,
- Compressors and turbines for syngas, steam, CO2, and air are examples of high-efficiency turbomachinery technology,
- Power and heat generation with little to zero emissions for renewable ammonia plants,
- Pre-front-end engineering and construction (FEED) and FEED operations to allow for offshore carbon storage asset project execution,
- Life-of-field operation model for carbon storage plant life cycle, including site selection, excavation, and power to subsea facilities.