CCS is a necessary part of reducing CO2 emissions and restricting the increase of global temperatures to below 1.5˚C. In particular, it is a key means of decarbonising energy-intensive industries.
However, the current pace of CCS deployment is too slow. In order to ensure a successful energy transition, we need a fully operational CCS value chain.
- Increasing the pace of commercial uptake of large-scale, cost-effective CCS for European energy-intensive industries, and
- Reducing the cost of CCS by efficiently linking the whole CCS value chain, from capture to storage.
Norway, thanks to its sustained support for CCS (through projects like Longship), is in a strong position to lead this development. LINCCS will repurpose existing offshore installations, competencies and technologies for new, sustainable business opportunities in line with the EU taxonomy. This is expected to generate jobs and open market opportunities for Norwegian industry.
The project is designed to accelerate the chain of initiatives and investments necessary for creating large-scale, sustainable CCS value chains from capture to storage, thereby reducing the total cost of transition towards a climate-neutral economy. As such, LINCCS is divided into four research subprojects (SP1-4) and one administration subproject (SP5). SP1-4 will address the CO2 capture and storage value chain as a commercially viable transition opportunity offered by the taxonomy in a short timeframe.
These are the goals LINCCS aims to achieve by 2030:
LINCCS gathers 13 influential actors working on the Norwegian Continental Shelf (NCS) with the knowledge, financial and operational capacity to fast-track commercially viable climate solutions, and that share the purpose of leading the green transition and accelerating the deployment of CCS.
The balance of R&D, technology developers and industry end users is uniquely suited to fulfilling the ambitions of the Green Platform and the European Green Deal, while fostering value creation for both Norway and Europe.
Only through collaboration can LINCCS’ ambitious goals be achieved.
Project period: 2021-2024