By Al Jazeera Tv
Copyright trend
BAKU, Azerbaijan, October 2. TotalEnergies,
through its affiliate TotalEnergies E&P Denmark, has signed a
Farm-Down Agreement with CarbonVault, the Danish arm of German
cement producer SCHWENK, to collaborate on the Bifrost Carbon
Capture and Storage (CCS) Project, Trend reports.
Under the agreement, TotalEnergies E&P Denmark will operate
the project with a 45% stake, alongside CarbonVault holding 35% and
Nordsøfonden 20%. The Bifrost Project consists of two offshore CO2
storage licenses located approximately 200 kilometers west of the
Danish coast and forms part of TotalEnergies’ North Sea CCS
SCHWENK, committed to decarbonizing its European operations, has
selected Bifrost as its preferred solution for storing future
emissions. The partnership demonstrates how TotalEnergies can
support industrial customers in reducing their carbon footprint by
aligning a company’s decarbonization roadmap with the technical
capabilities of a CCS developer.
“We look forward to working with our new partner to ensure the
successful deployment of the Bifrost Project, a cornerstone of
Denmark’s national ambition to establish a European hub for CO2
storage,” said Arnaud Le Foll, Senior Vice-President of New
Business – Carbon Neutrality at TotalEnergies.
The completion of the transaction is subject to customary
conditions, including regulatory approvals.
