Horisont Energy and E.ON are strengthening existing collaborative efforts to develop a European carbon value chain. Both companies signed a letter of intent, whereby E.ON aims to provide more than one million tons of existing CO2 per year from its European customer sites by 2030, starting from 2027 with gradual increase.
Horisont Energi will operate services on CO2 marine transport and long-term storage.
Subject to license award, Horisont Energi plans to start operations of the Norway-based CCS project “Errai”. To that end, developing a European carbon value chain will require proven and mature technologies for capture, transport, and storage of CO2 on an industrial scale.
The agreement is an important milestone in the cooperation between the two partners and for Horisont Energi’s commercial CO2 transport and storage business. Horisont Energi will apply for the announced license to operate the CO2 storage Errai in the North Sea by early January. With this agreement, both Horisont Energi and E.ON position themselves as key players and Errai as a key project in the decarbonization of European industry and cities.
Horisont Energi plans to store four to eight million tons of CO2 per annum in the first phase of the Errai project, potentially storing more in later phases. The project includes an onshore terminal for intermediate CO2 storage, with the intention to permanently store the CO2 in an offshore reservoir. With the current plans, the Errai project will develop the second CO2 terminal in Norway. It was initiated by Horisont Energi in 2021, and CO2 storage is expected to start in 2026.
“We are very proud to be a pioneer in the field of industrial CO2 circular economy together with Horisont Energi. With this next step we aim to extend our decarbonization solutions portfolio and make carbon capture and storage available to customers in Europe. For our industrial customers in particular, CCS technology will play a key role in achieving their net zero targets. As a partner to our customers, we stand ready to shape this path.”