23:30 21 October 2026
Orlen carbon storage project secures EU funding
A Norwegian carbon transportation and storage project involving Orlen Upstream Norway, Aker BP and Höegh Evi has been selected to receive €223 million from the European Union's Innovation Fund. The Atlas project is designed to transport liquefied carbon dioxide by specialized vessels and permanently store it in geological formations beneath the Norwegian North Sea. Its planned initial injection capacity is 6 million metric tons of carbon dioxide annually, with operations scheduled to begin in 2031.
Aker BP operates the storage license and holds an 80% interest, while Orlen Upstream Norway owns the remaining 20%. Geological conditions could allow annual storage capacity to increase to at least 10 million metric tons if demand supports expansion. The partners expect to make a final investment decision in 2028. Atlas was among 77 projects selected for EU support totaling €3.4 billion.
Source: bankier.pl
