EU funds €223 million CO2 transport and storage project by Aker BP, Höegh Evi

· Oil & Gas · Norway · European Union

Aker BP and Höegh Evi have secured €223 million from the European Union Innovation Fund for a large-scale carbon dioxide transport and storage (CCS) project. The grant supports cross-border CO2 transport and storage infrastructure, with the EU backing the buildout as part of its decarbonization strategy. CCS is seen by oil and gas operators as a way to keep industrial emissions out of the atmosphere while maintaining hydrocarbon activity. Details on capacity and the timeline for the project were not included in the report.

Why it matters：EU funding for cross-border CO2 infrastructure signals policy support for CCS as a commercial business line for oil and gas operators, shaping where future storage hubs are built.

Key points

  • The grant is €223 million from the EU Innovation Fund.
  • It backs cross-border CO2 transport and storage infrastructure.
  • The project is run by Aker BP and Höegh Evi.

Sources (original reporting)

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