Baker Hughes and Horisont Energi AS have signed a memorandum of understanding (MoU) for the Polaris carbon storage project off the northern coast of Norway. Under the agreement, the two companies will explore the development and integration of technologies to minimize the carbon footprint, cost and delivery time of carbon capture, transport and storage.
Horisont Energi's Polaris offshore carbon storage facility is part of its “Barents Blue” project, which is the first global and full-scale carbon neutral “blue” ammonia production plant. The Polaris project is expected to have a total carbon storage capacity in excess of 100 million tons, which is equivalent to twice Norway’s annual greenhouse gas emissions. Currently at the concept phase, the facility is expected to enter the construction phase in the second half of 2022.