CCS costs of the Longship Project
The total project costs are estimated at NOK 25.1 billion. This includes both the investment and ten years of operation. The state’s part of these costs are estimated at NOK 16.8 billion, which means that the state expects to cover approximately two-thirds of the project’s cost.
The Longship CCS
In September 2020, the Government proposes to launch a carbon capture and storage (CCS) project in Norway. The project has been named ‘Longship’, in Norwegian ‘Langskip’.
– Longship is a milestone in the Government’s industry and climate efforts. The project will lead to emission cuts, and facilitate development of new technology and thus new jobs, says Prime Minister Erna Solberg.
The estimation of CCS costs are based on FEED studies
The cost estimates for the Full-scale CCS project in Norway are based on FEED studies from Fortum Oslo Varme, Norcem and Northern Lights. Their FEED studies and cost estimates are quality assured according to a mandatory quality assurance scheme in Norway for public supported investment projects. The cost estimates are shown in Atkins and Oslo Economics quality assurance report, published June 25, 2020.
A report from DNV GL to Gassnova analyzes the cost reduction potential for CCS.