Aker Carbon Capture, Altera Infrastructure and Höegh LNG to collaborate on full value-chain offerings for carbon capture and storage

News provided by

Jan 31, 2022, 01:14 ET

OSLO, Norway, Jan. 31, 2022 /PRNewswire/ -- Aker Carbon Capture, Altera Infrastructure and Höegh LNG have entered a non-exclusive collaboration to explore a full value chain offering for carbon capture, utilization, and storage (CCUS).

"Strategic partnerships with providers of CO2 processing, transport and storage capabilities help to optimize the value chain to fast-track the deployment of carbon capture utilization and storage. We are pleased to collaborate with Altera Infrastructure and Höegh LNG with their maritime infrastructure expertise in our efforts to accelerate the CCUS market," said Jon Christopher Knudsen, Chief Commercial Officer of Aker Carbon Capture.

The parties will collaborate on offering Carbon Capture as a Service to industrial emitters, enabling cost-effective implementation of the full value chain needed to realize carbon capture, utilization, and storage projects for industrial emitters.

Altera Infrastructure and Höegh LNG are global maritime and infrastructure companies, providing services in the CCUS value chain including gaseous and liquid CO2 gathering, purification, liquification, transportation and permanent underground storage of CO2. Their Stella Maris CCS project covers large-scale transport with shuttling of CO2 to an offshore site for injection and permanent storage in a relevant subsea reservoir.

Ingvild Sæther, Group CEO of Altera said: "large scale maritime CCS is seen as a cornerstone in Altera's future business and a concept we have been working on for more than a decade, more recently with our partner, Höegh LNG. We believe delivery of CCUS will be required to achieve a meaningful contribution to net zero and we are delighted to be collaborating with Aker Carbon Capture as a leader in carbon capture technology."

The collaboration is non-exclusive, allowing the parties to offer a full value chain offering at locations where the combined technical concept of Aker Carbon Capture's technology and the processing and shipping capabilities of Altera Infrastructure and Höegh LNG is best suited, whilst leaving the parties with flexibility to work with alternative solutions elsewhere.

"These collaborations represent key building blocks in our Carbon Capture as a Service; Carbon Capture Made EasyTM offering, enabling source-to-storage decarbonization at a pay per tonne captured CO2 model," said Knudsen.

Höegh LNG operates world-wide in a leading position as owner and operator of floating LNG import terminals, FSRUs (Floating Storage and Regasification Units). Höegh LNG is also one of the most experienced operators of LNG Carriers (LNGCs). We always seek excellence in our operations in order to maximize value for our clients, minimize impact on the environment and ensure welfare of our employees. Thereby creating value for the group. Our vision is enabling the transition to clean energy and the strategy is to drive and embrace technological and commercial innovation.

Altera Infrastructure is a leading global energy infrastructure services group primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of the North Sea, Brazil and the East Coast of Canada. Altera Infrastructure's current fleet is comprised of FPSOs, shuttle tankers, towing vessels and a unit for maintenance and safety. Through teamwork and innovation, we are shaping the infrastructure of offshore energy, leading the industry to a sustainable future.

Media contact:
Ivar Simensen, mob: +47 464 02 317, email: [email protected]

Investor contacts:
Christian Yggeseth, mob: +47 915 10 000, email: [email protected]
David Phillips, mob: +44 7710 568279, email: [email protected]