Norway Awards Equinor License To Build CO2 Storage Under Seabed

Equinor has won a license to develop CO2 storage under the North Sea, Norway’s oil ministry said Jan. 11, part of a push to combat climate change.

Equinor is expected to submit a development plan this year, with parliament making a final decision in 2020 or 2021.

Proponents of carbon capture and storage (CCS) say countries need the technology to help fulfil pledges made around the time of the breakthrough Paris climate change agreement in 2015.

But environmentalists say is a costly technology that will perpetuate the status quo when rapid and deep cuts to energy use are needed to limit global warming.