Subsea7 Hooks Equinor’s Deal for CCS Work off Norway
development’s carbon storage capacity to a minimum of five million tonnes per year, and to support the continued development of a new value chain for Norway and Europe,” said Erik Femsteinevik, Vice President for Subsea7 Norway.Northern Lights phase 2 is enabled by a grant from the Connecting Europe Facility for Energy (CEF Energy) funding scheme.To remind, Equinor, Shell and TotalEnergies, made a final investment decision (FID) to progress phase two of the Northern Lights CCS development earlier in March, investing $712 million for the scheme.Phase two of the development will increase the
Stockholm Fairway 'Smart Buoy' Powered by the Sun
measures 80 centimetres in diameter and is equipped with an LED lamp. A ten meter-long cable chain and seven ton concrete attachment ensures that the buoy is securely anchored on the sea bed. The EU Intelligent Sea Project runs from 2018 until 2022. The project is funded by an EU grant from the Connecting Europe Facility (CEF) program
Brexit: What’s in Store for the Subsea Sector?
connectors between the UK and other European countries. Boyde explains, “These are designated as European Projects of Common Interest (PCI) and not only benefit from accelerated planning and permitting procedures but are eligible to receive EU funding via the $5.7 ‘Connecting Europe Facility’. There are currently 16 subsea power cable projects across Europe that have applied for this status; eight of these projects connect to the UK with a total capacity of approximately 8 GW, or approximately 20% of the UK’s total current electricity supply. DeepOcean and many
February 2025
