Finland and Norway to cooperate on cross-border transportation and storage of CO2
The Finnish Minister of Climate and the Environment Kai Mykkänen and the Norwegian Minister of Energy Terje Aasland discussed cooperation prospects in the energy sector between the two countries in a virtual meeting on 6 September 2024.
At the meeting, the ministers agreed on launching cooperation on the transportation and storage of CO2. The promotion of technical sinks is one of the key themes of the Finnish Government’s climate policy and Finland promotes the extensive introduction and use of technical sinks.
The Finnish soil is not suited for permanent storage of CO2. Norway has more than 27 years of experience with safe storage of CO2 under the seabed. The Norwegian Government will continue to develop the Norwegian continental shelf and enable commercial storage of CO2 as a service and a market opportunity for emission sources. Through this cooperation, the Finnish Government will create a framework for the companies that will enable them to transport CO2 to Norway for storage.
“Finland has a lot of potential in the capture and use of biogenic carbon. In addition, we want to make it possible to store carbon dioxide permanently. The cooperation to be launched with Norway will improve the conditions for the clean growth of companies and for the development of technological solutions,” Mykkänen says.
“I look forward to strengthening our cooperation with Finland and to facilitate cross-border transport and storage of CO2 between our two countries. We have capacity to store large amounts of CO2 on the Norwegian Continental Shelf which can provide a service and market opportunity for emissions in Europe. This kind of teamwork is important for carbon capture and storage to become the successful climate mitigation measure we need it to be,” says Aasland.
The aim is to sign a Memorandum of Understanding between Finland and Norway on cooperation on cross-border transportation of CO2with the purpose of permanent geological storage. Before this can be done, certain procedures under international agreements must be completed in Finland that will require the preparation of a government proposal and its approval by Parliament.
Norway and Finland agreed to strengthen cooperation in the energy sector. The topics of the meeting included the Nordic electricity markets and development of transmission grid, energy security and the protection of critical energy infrastructure and Finland's experiences in the use of nuclear energy.
Inquiries:
Lyydia Ylönen
Special Adviser to Minister Mykkänen
tel. +358 50 476 1341
[email protected]
Hanne Siikavirta
Ministerial Adviser (carbon capture and storage)
tel. +358 295 250 049
[email protected]
Elina Johansson
Ministerial adviser (energy)
tel +358 295 047 327
[email protected]