A complete and sustainable value chain for carbon capture-, transport and storage
Polaris
The carbon market is the new emerging trillion dollar-market. Developing a commercial value chain for CCS is essential to the decarbonization of European industry. The Polaris Project is a pioneering example of the emerging CCS industry and possibilities for European and domestic CO2-storage on the Norwegian Continental Shelf.
Key facts
Location
Barents Sea, 140 km off Hammerfest, Norway
Storage capacity
>3 MTPA (million tonnes per annum)
Technology
CCS – Carbon capture and storage
Type of reservoir:
Saline aquifer, i.e a water bearing reservoir
License area:
1000 km2
Reservoir depth:
The structural apex of the reservoir is 1400m TVDSS (true vertical depth below sea level)
Water depth:
250m
Reservoir thickness:
70 – 120m
The world is impatient and the need to reduce emissions from green house gases in both Norwegian and European industry is huge. We are developing carbon storages through our cutting edge carbon-tech, providing cost leading carbon storage for your business needs, and developing CCS as a commercial industry in Norway.
Polaris is our first carbon storage and is located several hundred meters below the seabed in the Barents Sea. 100 km off the coast of Finnmark in northern Norway, the Polaris project will build a new Norwegian carbon industry with both carbon storage and utilisation.
The reservoir is a key component for the planned Barents Blue Ammonia Plant, located in Hammerfest. Captured CO2 from the sequestration of natural gas and production of blue ammonia will be stored in the Polaris reservoir.
In addition, the reservoir will be available for third party storage. The German energy giant, E.ON signed an LOI (letter of intent) in 2023, committing to buy and store 1 million tonnes of CO2 from European customers. This example underpins the European demand for CO2 storage on the Norwegian Continental Shelf.
The Polaris project is an perfect example of how the Norwegian Continental Shelf will play a crucial role in the development of end-to-end value chains for CCS. Horisont Energi and partners are pioneering CCS value chains, enabling large-scale CO2 storage and a new emerging CCS industry in Europe.
The Polaris reservoir is currently undergoing subsurface assessment and studies. The offshore pre-survey is completed. In June 2022 the storage license was formally approved by the Norwegian Ministry of Energy.