Poland’s ORLEN takes on CO2 storage project in Norway’s Arctic

PGNiG Upstream Norway, part of Poland’s ORLEN Group, will join and operate the Polaris carbon storage project in the Norwegian Barents Sea, owned by Horisont Energi. The two groups signed a letter of intent that will see the ORLEN subsidiary become the operator and acquire a stake of up to 50% in the Polaris licence. The process of bringing the new partner on board is expected to be completed by early December. The Polaris project would mark ORLEN’s first intended CO2 storage licence anywhere, which it hopes can help decarbonise industry exposed to high emission costs. The agreement is in […]