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TotalEnergies, via its affiliate TotalEnergies E&P Denmark, has entered right into a Farm-Down Settlement with CarbonVault, the Danish affiliate of the German cement producer SCHWENK. Beneath this settlement, TotalEnergies E&P Denmark will maintain a forty five% curiosity within the Bifrost Carbon Seize and Storage (CCS) Undertaking because the operator, alongside CarbonVault (35%) and Nordsøfonden (20%).
The Bifrost Undertaking, which includes two CO2 offshore storage licenses positioned roughly 200 kilometers west of the Danish coast, is a part of TotalEnergies’ North Sea CCS portfolio.
SCHWENK is dedicated to the decarbonization of its actions in Europe and selected Bifrost to be its most popular resolution to retailer its future emissions. This partnership inside the Bifrost Undertaking illustrates how TotalEnergies can contribute to its prospects’ personal emissions discount by combining the decarbonization roadmap of an industrial emitter with the capabilities of a CCS developer.
“We stay up for working with our new companion to make sure the profitable deployment of the Bifrost Undertaking, a cornerstone of Denmark’s nationwide ambition to determine a European hub for CO₂ storage,” stated Arnaud Le Foll, Senior Vice-President New Enterprise – Carbon Neutrality at TotalEnergies.
Completion of the transaction is topic to customary situations, together with regulatory approvals.
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