Norway’s energy minister has outlined the country’s ambitions for offshore carbon dioxide capture and storage, emphasizing its world-leading credentials in this area. This announcement comes as Norway’s massive oil fund revealed a record annual return in 2023.

Norway has established itself as a pioneer in offshore CO2 storage on the Norwegian continental shelf, with two operational projects – Sleipner and Snohvit. These projects involve capturing CO2 from gas production streams and reinjecting it into sub-seabed formations.

The nation’s focus on carbon capture and storage aligns with its commitment to environmental sustainability and positions it at the forefront of industry growth in this area.