S'abonner

Norne and Port of Aalborg sign 30-year exclusive deal for CO2 hub

Norne and the Port of Aalborg begin construction of a 15 mn tonne per year CO2 terminal, supported by an EU grant.

Share:

Norne Carbon Storage Hub, a portfolio company of Fidelis New Energy, LLC, has signed a 30-year exclusive agreement with the Port of Aalborg for the operation of a large-scale carbon dioxide reception infrastructure. The partnership includes a grant from the European Union’s Connecting Europe Facility (CEF), a programme aimed at accelerating the development of strategic cross-border energy infrastructure.

The project’s initial phase is designed to process 15 mn tonnes of CO2 annually. The European grant will co-finance the construction of a new 500-metre quay in the port, representing 60,000 square metres of operational area. This site will serve as an entry point for CO2 captured in Denmark and the surrounding region, directed towards onshore or nearshore storage, as well as industrial applications involving beneficial use.

Technical progress and strategic status

Norne has completed front-end engineering and design (FEED) studies for all facilities, including a connecting pipeline to nearby storage sites. Environmental and ecological assessments have also been carried out. In 2023, the project received the designation of “Project of Common Interest” (PCI) from the European Commission, a status that expedites permitting by facilitating the environmental impact assessment process.

The PCI status also enables Norne to apply for additional grants under the CEF programme to support future development phases across the CO2 value chain. The construction of the new quay will mark the start of operational deployment of the storage hub, consolidating the Port of Aalborg’s role as a central point in Denmark’s carbon capture and storage infrastructure.

Industrial outlook and regional role

Kristian Thulesen Dahl, Chief Executive Officer of the Port of Aalborg, stated: “We are very pleased to continue the work we have carried out with Fidelis and Norne since 2021 to position the Port as a strategic centre for CO2 storage. This collaboration represents a growth lever to attract new industries.”

Lars Bo Christiansen, President of Norne, added that the company aims to expand its current capacity and welcome industrial projects requiring decarbonisation solutions. He highlighted ongoing cooperation with European institutions and the Danish government.

  • Populaires ​
Turkey plans to start gas supplies to Syria soon, says energy minister
Envision inaugurates the world’s largest green ammonia plant in China
Masdar and Iberdrola invest €5.2bn in UK offshore wind
Rio Tinto: five strategic priorities to close a 40% valuation discount
Egypt: Supplementary agreements signed for the El Dabaa nuclear power plant
First commercial seaweed harvest completed in Dutch offshore wind farm
North Sea Farmers has carried out the very first commercial-scale seaweed harvest in an offshore wind farm, supported by funding from the Amazon Right Now climate fund.
NWF injects GBP 28.6 million into Peak Cluster project for CO₂ capture
The UK's National Wealth Fund participates in a GBP 59.6 million funding round to finance a CO₂ capture pipeline for the cement and lime industry, targeting a final investment decision by 2028.
Bayou Bend accelerates carbon storage on the US Gulf Coast
The Bayou Bend project, led by Chevron, Equinor, and TotalEnergies, aims to become a major hub for industrial carbon dioxide storage on the US Gulf Coast, with initial phases already completed.
Chloris Geospatial raises $8.5M to scale satellite-based forest carbon monitoring
US-based Chloris Geospatial has raised $8.5M from international investors to expand its satellite-based forest monitoring capabilities and strengthen its commercial position in Europe, addressing growing demand in the carbon market.
Ottawa injects CAD21.5mn ($15.8mn) into new carbon capture projects
The federal government is funding three carbon capture, utilisation and storage initiatives in Alberta, strengthening national energy competitiveness and preparing infrastructure aligned with long-term emission-reduction goals.
Donald Trump significantly increases US tax credits for carbon capture
Donald Trump approves a substantial increase in US tax credits aimed at carbon capture and utilization in oil projects, significantly reshaping economic outlooks for the energy sector and drawing attention from specialized investors.
EU Unlocks €2.1 Billion to Protect its Exporters from Carbon Costs
The European Union unveils a plan aimed at protecting its exporting industries from rising carbon policy costs, using revenue generated from its border adjustment mechanism.
Colombian Carbon Market Under Pressure: Excess Credits and Waning Confidence
Colombia is experiencing a significant drop in voluntary carbon credit prices due to a major oversupply, destabilizing the financial balance of associated communities and projects.
France and Norway formalize an agreement on cross-border CO₂ transport
France and Norway sign an agreement facilitating the international transport of CO₂ to offshore geological storage facilities, notably through the Northern Lights project and the CO₂ Highway Europe infrastructure.
Frontier signs offtake agreement for 120 000 tonnes of BECCS credits
Frontier Infrastructure Holdings has signed an offtake agreement with manager Wild Assets for up to 120 000 tonnes of BECCS credits, underscoring the voluntary market’s growing appetite for traceable, high-permanence carbon removals.
Wood Mackenzie forecasts $1.35 trillion for CCUS and carbon credits markets
Global carbon capture and offset credit markets could exceed $1.35 trillion by 2050, driven by private investment, technological advances, and regulatory developments, according to analysis published by Wood Mackenzie.
Australian Carbon Credit Market: New Players Influence Price Dynamics
The Australian carbon credit market is experiencing temporary price stabilization, while the emergence of new alternative financial instruments gradually attracts corporate attention, subtly altering the commercial and financial dynamics of the sector.
Norway Launches Complete Industrial Chain for Carbon Capture and Storage
Norway has launched a major industrial project aimed at capturing, maritime transport, and geological storage of CO₂, mobilizing key energy players and significant public subsidies to ensure economic viability.
The EU grants €21mn to accelerate industrial decarbonisation in Egypt
A €21mn European grant, managed by EIB Global, will fund Egyptian projects aimed at cutting industrial emissions and boosting recycling, while a related €135mn loan is expected to raise additional climate investments.
Sweden and Norway Launch CCS Infrastructure Targeting 5 Mt Annual CO₂ Capture
Stockholm Exergi begins construction of a CO₂ capture facility in Stockholm, integrated with the expansion of Northern Lights in Norway, reaching a total storage capacity of 5 million tonnes per year by 2028.
Global carbon coverage reaches 28%, compliance demand triples
Global emissions coverage by carbon pricing systems reaches 28%, driven by expanding compliance markets, where demand nearly tripled within one year, according to a World Bank report.
Vietnam Launches Pilot Carbon Market Targeting Three Major Industrial Sectors
Vietnam initiates a pilot carbon market targeting steel, cement, and thermal energy industries to prepare for nationwide regulation starting in 2029.
EPA delegates strategic management of CO₂ injection permits to Texas
The U.S. Environmental Protection Agency (EPA) proposes granting Texas direct authority to issue carbon dioxide injection permits, potentially accelerating the commercial expansion of geological CO₂ storage projects.
Höegh Evi and Aker BP receive DNV approval for next-generation CO₂ carrier
Höegh Evi and Aker BP received Approval in Principle from DNV for a maritime carrier designed to transport liquefied CO₂ to offshore storage sites in Norway.
Lagos launches carbon credit project for 80 million households in Nigeria
The Lagos State government has launched a programme to deploy 80 million improved cookstoves, generating up to 1.2 billion tonnes of tradable carbon credits.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING