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Aver Invests Up to 1 billion Kroner in Capture Facility

Thursday, Apr 03, 2008
Article Type: Reprinted 

Aker will build what it says is likely to become the world's first and largest CO2 capture facility of its kind.

The CO2 capture plant will be in operation by 2009, removing CO2 from exhaust emissions from the natural-gas-fired power plant and gas processing facilities at Kårstø in the southwestern Norwegian county of Rogaland.

The facility will cost around NOK 725 million, with operating costs estimated at NOK 150 million over a three-year period.

However the company says that until a public system for transportation and storage of CO2 is in place, carbon dioxide from the CO2 capture facility will be released to the atmosphere.

Aker says it has worked intensively on developing new CO2 capture technology over the past few years. The primary purpose of the new facility is not primarily further technology development, it says, but the development of construction methods and effective execution models that make carbon sequestration so inexpensive that it becomes cheaper to clean emissions than to pollute.

Leif-Arne Langøy, Aker ASA Chairman and CEO, explained that Aker finds it interesting to invest significant funds in such a project because both the market and potential for future value creation are great.

Aker Clean Carbon has confirmed to Gassnova, the Norwegian state owned company to promote environmentally friendly gas industry technology, which Aker Clean Carbon would like to bid for the front end engineering and design (FEED) contract and, eventually, the construction of a full-scale CO2 capture facility at Kårstø.

According to current plans, a FEED contract will be awarded in May 2008, and an overall contract for building the facility will be awarded in 2009.

Aker Clean Carbon will also work closely with the SINTEF research center and the Norwegian Institute of Technology (NTNU) in Trondheim concerning their efforts to develop new and improved aqueous amine solutions.

Aker Clean Carbon is participating actively in the development work, and will also contribute funding to this development project, which has a total budget framework of about NOK 250 million over a eight-year period.

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