Norne Thorning Storage ApS ("Norne"), a Fidelis New Energy, LLC company, has been awarded the Exploration License for the Thorning structure by the Danish Minister of Climate, Energy and Utilities. Norne will soon commence its exploration work program to gather the necessary information about the structure to thoroughly evaluate and confirm its suitability for safe and permanent CO2 storage. If the structure is suitable for storage, this could pave the way for storage before 2030.
Norne will be the operator of the Thorning exploration license working alongside their joint venture partner Nordsøfonden, representing the Danish state. If data acquisition and evaluation confirm that the Thorning geological structure is suitable for safe and permanent storage of CO2, then Norne and Nordsøfonden would then have the exclusive right to apply for a CO2 storage license, which will be subject to the approval of the Danish Energy Agency ("DEA"). In addition to successfully obtaining the CO2 storage license, all relevant environmental permits will be in place and all financial and safety related requirements met before the establishment of any CO2 storage facility.
"The exploration work program has been carefully designed to provide a comprehensive understanding of the deep geological structures and their ability to safely and permanently store CO2. Ross, Norne's Exclusive Subsurface and Wells Partner and their long experience with the subsoil of Denmark has been instrumental in planning the work program, which includes extensive seismic sensors aerial surveys with minimal environmental impacts, extensive 3D seismic surveys, and exploration and appraisal wells," said Lars Bo Christiansen, President of Norne Climate Impact.
The award of the Thorning exploration license is a major milestone for Norne. Norne has been sponsored by Fidelis New Energy, LLC since 2021 and was chosen as an EU Project of Common Interest ("PCI") by the European Commission in 2023. Adding the Thorning structure to Norne will bring Denmark and the EU one step closer towards its decarbonization goals with the potential to offer important hard-to-abate industries an integrated solution to reduce their CO2 emissions.
"We look forward to working alongside the DEA and collaborating with Nordsøfonden to explore the CO2 storage potential of the Danish subsoil, with the hope of establishing Thorning as a safe site for CO2 storage," said Bengt Järlsjö, Co-Founder and President of Fidelis New Energy. "This license award highlights Denmark's leadership in decarbonization once again, aiding both Danish and European industries in their pursuit of significant carbon emission reductions. Since 2021, we have engaged actively with the Danish government, local authorities, Port of Aalborg, and industry partners throughout Denmark and Europe. Our vision has consistently centered on promoting effective and safe onshore carbon capture and storage policies, while creating efficient and cost-effective CO2 infrastructure solutions for Denmark and Europe."
Exploration and potential development of geological storage of CO2 is important for Denmark to achieve its carbon reduction targets for 2030 and beyond. Norne's long and engaging discussions with Danish and EU industry players that need CO2 storage to decarbonize has enabled a concept where costs and environmental impact of Danish CO2 reductions can be significantly reduced as facilities are utilized by both Danish and EU emitters. Norne enables multiple modes of delivery of CO2 to Thorning. A CO2 receiving terminal at the Port of Aalborg will make it possible to receive CO2 from Danish, Baltic and European CO2 emitters.