TotalEnergies acquires 40 per cent interest in offshore CCS project in Luna

TotalEnergies, a France-based oil and gas company, and CapeOmega AS have announced the signing of an agreement to purchase the 40 per cent participating interest in the carbon dioxide storage exploration permit for the Luna project, ExL004. TotalEnergies will purchase this interest from CapeOmega AS. The said project spans an area of 453 sq km and is situated 120 km west of Bergen, in the North Sea’s water depth of 200 metres, Norway.

The permit includes the capacity to store more than five million tonnes of carbon dioxide annually, which will be injected into drilled wells and aquifers beneath the seabed. Additionally, Wintershall DEA, which received Norway’s first carbon capture and storage (CCS) exploration permit, is constructing a carbon dioxide hub in Wilhelmshaven, Norway, as part of the project. The aim of the company is to collect and temporarily store carbon dioxide prior to its offshore transportation. Currently, the company owns and manages 60 per cent of the project, while TotalEnergies holds a 40 per cent stake in the project.

In June 2022, TotalEnergies and VNG, a German natural gas distribution company, signed an agreement to initiate the future supply of green hydrogen to the Luna refinery operated by TotalEnergies. Under the agreement, green hydrogen will be produced from renewable electricity with a 30 MW electrolyser in Bad Lauchstädt, built and operated by VNG with its partner Uniper.