Google translated press release from the Ministry of Petroleum and Energy:
The government has already spent large amounts of money on research and development, demonstration and planning of the full-scale project. The proposed state budget for 2020 includes the continuation of the work on a full-scale project for CO2 capture and storage, funds for the operation of the Technology Center at Mongstad (TCM) and for the research program CLIMIT.
- Capturing and storing CO2 will be one of many necessary measures if we are to reach the temperature targets in the Paris Agreement. The Norwegian Government will contribute to the development of technology for the capture, transport and storage of CO2 and has spent large amounts on the development and planning of the full-scale projects. We propose this effort to continue in 2020, says Minister of Petroleum and Energy Kjell-Børge Freiberg.
Work on a full-scale project for CO2 capture and storage is continuing. The government proposes to allocate NOK 215 million to the industry players' work on the project in 2020. This paves the way for maintaining progress.
The Government will consider whether the project should be realized once the Front End Engineering (FEED), planning and external quality assurance has been completed. When making an investment decision, the government will evaluate the results and information that comes from the FEED and planning phase, the potential for profit realization and the economic room for maneuver.
The matter will be presented to the Parliament. The government has said that an investment decision can be made in 2020/2021. Both the government and the industry are concerned that we spend sufficient time on the planning of the project. This is also a clear advice from the external quality assurance advisors.
- The government has an ambition to realize a cost-effective solution for full-scale CO2 management in Norway, granted this provides technology development in an international perspective. The state budget proposal facilitates the necessary progress towards investment decisions, says Freiberg.
The state will decide on the continuation of TCM when a draft new agreement is in place, at the latest in connection with the revised budget for 2020. The state wants increased participation and financing from the industry. Negotiations are underway between Gassnova and the industrial owners of TCM for a new agreement for the further operation of TCM after the current agreement expires in August 2020.
The Government continues to support research, development and demonstration of CO2 management technologies through the CLIMIT program, and the CCS Research Center at Sintef in Trondheim.