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| TOTAL SE | NYSE:TOT | NYSE | Depository Receipt |
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From May 2019 to May 2024
By Maitane Sardon
Energy majors Equinor, Shell and Total said Friday that they will jointly invest in a project to store and transport CO2 in Norway.
The project, called Northern Lights, is part of the Norwegian government's goal to develop a full-scale carbon capture and storage value chain in the Scandinavian country by 2024.
The companies said they will invest an initial amount of 6.9 billion Norwegian kroner ($676.7 million) and that the project will be developed in two phases. During the first phase, up to 1.5 million tons of CO2 a year will be captured and stored.
The project has to receive a positive final investment decision from the Norwegian government this year and will be operational in 2024.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
May 15, 2020 12:10 ET (16:10 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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