Norwegian energy companies Aker Solutions, Knutsen NYK Carbon Carriers (KNCC), and Vår Energi CCS, operator of the Trudvang CCS project, have entered into a Memorandum of Understanding (MoU) to collaborate on the development of an integrated CO₂ transport and storage value chain on the Norwegian Continental Shelf (Aker Solutions press release, 04/05/2026).
The Trudvang project plans to store CO₂ within the Utsira Formation, a geological reservoir located in the North Sea. This formation has already been utilized for carbon storage at the nearby Sleipner field, where CO₂ has been injected for almost 30 years. The project is expected to start with annual injection volumes of approximately 2 MtCO₂/year, with the potential to expand over time to exceed 20 MtCO2/year.
Trudvang holds the EXL007 CO₂ license on the Norwegian Continental Shelf, awarded by the Norwegian Ministry of Energy in September 2023. At the time of the MoU, ownership is distributed between Vår Energi CCS (Eni group, 40%), INPEX Idemitsu Norge (30%), and Storegga Norge (30%), according to the press release.