Horisont Energi and ECOLOG Signs Collaboration Agreement for Norway – Netherlands CO2 Corridor

Sandnes, Norway 13 November 2024: Horisont Energi (EURONEXT: HRGI) and ECOLOG have entered into a Collaboration Agreement to further develop the Norway – Netherlands CO2 corridor and enable industrial-scale CO2 transport between the Netherlands and the planned Gismarvik CO2 hub in Norway.

“The Collaboration Agreement with ECOLOG, Tata Steel Nederland, Port of Amsterdam, OCAP, DNB, Haugaland Business Park and ABN AMBRO strengthen Norway’s ties to the European continent and will enhance the attractiveness of Gismarvik CO2 hub and new CO2 storage sites on the Norwegian Continental Shelf. A Norwegian-Dutch CO2 corridor can enable permanent and safe sequestration of significant CO2 volumes, to accelerate the transition to a more sustainable future”, says Horisont Energi’s Co-CEOs Bjørgulf Haukelidsæter Eidesen and Leiv Kallestad.

The agreement builds on the Cross-Border Transport Memorandum of Understanding (MOU) signed between the governments of Norway and the Netherlands on 15 April 2024. The purpose of the Collaboration Agreement is to initiate a partnership among CO2 value chain stakeholders, evaluate feasibility, and advance the implementation of a CO2 Corridor between the two countries with clear milestones and timelines.

Horisont Infra’s Gismarvik CO2 hub project at Haugaland Business Park is intended to play a key role as the import terminal and injection hub for permanent sequestration of the CO2 on the Norwegian Continental Shelf.

Gismarvik CO2 hub is planned to be developed in several stages with a capacity up to 24 million tons per year, which equals about 50% of Norway’s annual CO2 emissions. ECOLOG is developing a central aggregation and liquefaction export terminal in Amsterdam to provide CO2 emitters in the region with a viable decarbonisation solution and connect industry with sequestration capacity in Norway.

“As we lead the efforts to bring together CO2 emitters, midstream infrastructure providers, and CO2 sequestration partners, our goal is to forge a collaborative path towards decarbonisation. The Gismarvik CO2 hub is strategically positioned to play a key role in this goal, serving as a technically mature project with the capacity to receive large ships and significant CO2 volumes from Europe,” says Jasper Heikens CCO of ECOLOG.

The Collaboration Agreement between Horisont Energi and ECOLOG was signed in connection with the state visit from the Netherlands to Norway (Bergen) on 13 November 2024.