EQNR - Equinor Wintershall Dea to partner on big carbon capture and storage project

Equinor ( NYSE: EQNR ) and Wintershall Dea said on Tuesday they will jointly develop carbon capture and storage projects , including a planned 900-km pipeline from northern Germany to storage sites offshore Norway under the North Sea before 2032.

The companies said the pipeline would have a transport capacity of 20M-40M metric tons/year of CO2, equivalent to ~20% of all German industrial emissions per year.

Equinor ( EQNR ) and Wintershall Dea also plan to jointly apply for offshore CO2 storage licenses to store 15M-20M tons/year under the North Sea.

"Wintershall Dea and Equinor will work together to establish technical and commercial solutions for the development of cross-border carbon capture and storage value chains in Europe and work with governments to shape a regulatory framework that can enable it," Wintershall Dea CEO Mario Mehren said.

The JV announcement comes after Equinor, Shell and TotalEnergies signed the first commercial deal to transport CO2 emitted by a Yara fertilizer plant and store it under the North Sea .

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