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Statoil, Shell, Total enter CO2 storage partnership

Published 10/02/2017, 10:39 AM
© Reuters.  Statoil, Shell, Total enter CO2 storage partnership
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  • Statoil (OL:STL) (STO -0.2%) says it will lead a project alongside the Norwegian subsidiaries of Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) and Total (TOT -0.8%) in storing carbon dioxide captured from industrial facilities in eastern Norway at an offshore site.
  • The first phase of the project is expected to transport CO2 captured from facilities onshore and inject it near the Troll oil field on the Norwegian continental shelf; STO says there are three potential locations for the receiving terminal and will make a final decision later this year.
  • "Without carbon capture and storage, it is not realistic to meet the global climate target as defined in the Paris agreement," STO says.
  • Now read: Shell's Floating LNG Endeavor Is About To Begin

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