EQNR - Equinor Fluxys plan 620-mile pipeline for offshore carbon capture and storage

Equinor ( NYSE: EQNR ) and Belgian energy infrastructure firm Fluxys unveiled plans Wednesday to build a 620-mile pipeline to transport carbon dioxide captured on the European continent for storage underneath the North Sea.

The companies said the project, which is in the feasibility stage with a final investment decision expected by 2025, would help reduce emissions of climate-warming gases in northwest Europe.

The pipeline is expected to have a transport capacity of 20M-40M metric tons/year of CO2, meeting an emerging need for carbon capture and storage from multiple European industrial players.

Equinor ( EQNR ) is "very well positioned for high European natural gas prices," and shares are priced at just 2x free cash flow, Michael Wiggins de Oliveira writes in a bullish analysis posted recently on Seeking Alpha .

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