SANDNES, Norway 6 October 2022 - Horisont Energi (EURONEXT: HRGI) today
announced the signing of a project agreement with Neptune Energy to develop the
Errai Carbon Capture and Storage (CCS) project in Norway.
The project agreement builds on the memorandum of understanding that was
announced on 30 August 2022. The partners are now setting up a project
organisation to progress the project.
"CCS is a key component of the decarbonisation of European industry, and we see
substantial interest in CO2 storage from European industry. Both partners share
a sense of urgency in realising this technology on a large scale, and we have
been able to move quickly to formalise this agreement. We look forward to
cooperating with Neptune in the years to come," said Bjørgulf Haukelidsæter
Eidesen, CEO of Horisont Energi.
Errai plan to store 4-8 million tonnes of CO2 annually in the first development
phase, potentially storing more in later phases. The project includes an onshore
terminal for intermediate CO2 storage, with the intention to permanently store
the CO2 in an offshore reservoir. With the current plans the Errai project will
develop the second CO2 terminal in Norway.
The onshore terminal is designed to be capable of receiving CO2 from European
and domestic customers, including from the planned CO2 terminal at the Port of
Rotterdam. Several onshore locations in Southern Norway are being evaluated for
The Errai project was initiated by Horisont Energi in 2021, and CO2 injections
are expected to start by 2026. With this important agreement with Neptune
Energy, Horisont Energi is now pursuing their second project development
following the flagship project Barents Blue.
Neptune Energy has reinjected CO2 in the K12-B gas field in the Dutch North Sea
for 14 years, as well as being a partner in the Norwegian Snøhvit field, which
has been reinjecting CO2 since 2008. Neptune aims to store more carbon than is
emitted from its operations and the use of its sold products globally by 2030.
For further information, please contact:
Bjørgulf Haukelidsæter Eidesen, CEO
+47 990 36 892
+47 470 35 718
Neptune Energy Norge
Liv Jannie Omdal
+47 97 66 71 37
About Horisont Energi
Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that
provides clean energy and carbon transport and storage services. The company
will transform natural and renewable gases, water and renewable energy into
cost-leading clean ammonia and hydrogen and offer CO2 transportation and storage
services using proprietary technology, paving the way for a low carbon economy.
The company was founded in 2019 and is headquartered in Sandnes, Norway.
About Neptune Energy
Neptune Energy Norge is an independent global E&P company with operations across
Europe, North Africa, and Asia Pacific. The business had a production of 130,000
net barrels of oil equivalent per day in 2021 and 2P reserves on 31st December
2021 of 604 million barrels of oil equivalent. Neptune aims to store more carbon
than is emitted from its operations and the use of its sold products by 2030.
The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by
Carlyle Group and CVC Capital Partners.