A technologies that is seen as essential to reducing climate change but struggling to find a feasible financial unit was launched in Norway on Tuesday. The Longship project, which is based on the English name of the Vikings ‘ wooden boats, involves capturing carbon dioxide from a cement factory and afterwards from an burning factory, shipping it by ship to a switch on Norway’s west coast, injecting it, and then storing it beneath the ocean. The Scandinavian state has provided significant financial support to the project, which will include 22 billion euros ($ 2.2 billion ) of the estimated 34 billion euros complete for the installation and operation over the next ten years. Longship has been described as the “world’s first full-scale benefit network” for the capture and store of carbon from greenhouse gases that contribute to sweltering global warming. Norway Energy Minister Terje Aasland remarked,” This is not just an important time for Norway; it is a miracle for carbon capture and storage in Europe.” The service will be officially opened on Wednesday at a cement factory run by Germany’s Heidelberg Materials in Brevik, southeast of Norway, for the capture component. 400, 000 kilograms of CO2 will not be emitted into the atmosphere each time thanks to it. 350, 000 kilograms of CO2 will start to be emitted from the Hafslund Celsio spend burning plant near Oslo as part of the job starting in 2029. The liquid carbon dioxide may be transported by ship to the Oygarden terminal near Bergen, where it will be injected into a network to become stored 110 kilometers (68 miles ) abroad in a salt groundwater, which is located 2. 6 kilometers below the seafloor. The Northern Lights initiative, which is led by fuel tycoons Equinor, Shell, and TotalEnergies, has been running since last year, with the goal of providing the world’s first industrial CO2 transport and storage company. CCS technology, which is supported by the UN’s Intergovernmental Panel on Climate Change ( IPCC ) as a way to lower the carbon footprint of hard-to-decarbonize industries like those in cement and steel, is still complex and expensive. Without funding, it is now more profitable for businesses to buy “pollution permits” on the Western carbon market as opposed to paying for CO2 capture, transportation, and storage costs. According to the International Energy Agency, the global carbon capture potential already amounts to only about 50 million tonnes, which is equivalent to only 0.1 % of international annual pollution.
