YARIY Yara International ASA (PK)

By Pierre Bertrand

TotalEnergies SE on Monday said that its carbon dioxide capture and storage venture, Northern Lights, has secured its first commercial agreement from Yara International ASA.

Starting in early 2025, 800,000 tons of carbon dioxide a year from Yara's Sluiskil ammonia and fertilizer plant will be captured, compressed, and liquefied in the Netherlands before being transported and permanently stored more than two kilometers under the seabed off the coast of Norway, the French energy company said.

Northern Lights is a CO2 storage venture owned in equal shares by TotalEnergies, Equinor ASA and Shell PLC. It allows for the transportation and storage of CO2 emissions from European industry to boost the continent's decarbonization initiatives, TotalEnergies said.

The venture's Phase 1 installations are expected to be operational by 2024 and will have the ability to handle 1.5 million tons of CO2 a year. In future expansions, its capacity could increase to up to 5 million tons a year, TotalEnergies said.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

August 29, 2022 02:09 ET (06:09 GMT)

Yara International ASA (PK) (USOTC:YARIY)
Historical Stock Chart
From Nov 2024 to Dec 2024

Yara International ASA (PK) (USOTC:YARIY)
Historical Stock Chart
From Dec 2023 to Dec 2024