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Horisont Energi, Neptune Energy and E.ON sign MoU for CCS

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Picture of Meenal Datar

Meenal Datar

Membership specialist

Norwegian clean energy company, Horisont Energi and independent global E&P company, Neptune Energy have signed a memorandum of understanding (MoU). This has been signed with international energy major, E.ON with the aim to develop a carbon capture storage (CCS) value chain in Europe.

Through this MoU Horisont Energi will strengthen the existing cooperation with E.ON and bring in Errai partner Neptune Energy. The three energy companies will take a strong position in the CCS market, accelerating the transition to carbon neutrality.

The MoU covers several areas such as the development, financing, and funding of a complete value chain for CO2 handling. If Horisont Energi´s and Neptune Energy´s application for CO2 exploration for the Errai project is awarded, the intention is that this will be the first joint project.

Bjørgulf Haukelidsæter Eidesen, CEO at Horisont Energi says: ‘Our cooperation with E.ON and Neptune Energy is already strong…Together we will strengthen our position to establish a European CCS value-chain business. In case of license award of Errai, a possible direct participation by E.ON would further strengthen the commercial basis for this project.’

‘A partnership with energy major E.ON will strengthen our ambition in establishing Norway’s first commercial carbon storage project. This could be a key contributor to Neptune’s 2030 goal of storing more carbon than is emitted from our operations and from use of the oil and gas products we sell,’ adds Neptune Energy’s managing director in UK & Norway, Odin Estensen.

 

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