Illustration of carbon capture and storage process
The license is accompanied by a binding work program and specific milestones, designed to ensure efficient progress in project development. If license conditions are not met, the acreage may be relinquished. The initiative aims to support Norway's broader strategy to establish safe and commercially viable CO? storage facilities on the NCS.
Norwegian Minister of Energy Terje Aasland stated: “The government is making it possible for Norway to receive large quantities of CO? from Europe. The storage will take place on commercial terms, where those with emissions pay for the storage. This will be the fourteenth license for CO? storage on the Norwegian Continental Shelf. This shows that there is interest in offering safe and secure storage of CO? captured in Europe.”
The awarded area is located in subsea reservoirs in the North Sea and is part of Norway's continuing efforts to develop carbon storage capacity. The government views the geological conditions on the NCS as highly suitable for long-term CO? storage and is positioning the region as a reliable storage destination for European carbon emitters.
To support these efforts, the Norwegian government has proposed NOK 2.1 billion (approximately \$197.3 million) in its 2025 state budget to further develop the Longship project, which focuses on full-scale CO? capture, transport, and storage. Longship is seen as a key step in establishing commercial carbon management infrastructure.
Equinor has already conducted preliminary drilling in the region, identifying suitable geological formations for CO? injection and long-term storage. Other companies, such as Harbour Energy, have also confirmed favorable conditions in additional reservoirs nearby.
The growing number of exploration licenses indicates strong interest and collaboration between government and industry in building out CO? storage capabilities. These developments form part of a broader energy transition strategy, aligning with both Norwegian and EU decarbonization objectives.
Equinor Low Carbon Solution’s new license reinforces its role in advancing carbon storage infrastructure and highlights Norway’s ambition to become a key player in European CO? management.
