By Dieter Holger

 

Equinor ASA (EQNR.OS) said Thursday that it had entered into a partnership with seven European companies to develop carbon capture and storage.

The effort, called the Northern Lights project, will store carbon-dioxide in a reservoir in the northern part of the North Sea, Equinor said.

Companies that signed on to support the project include Air Liquide SA (AI.FR), ArcelorMittal (MT.FR), Ervia, Fortum Oyj (FORTUM.HE), HeidelbergCement AG (HEI.XE), Preem and Stockholm Exergi, Equinor said.

Equinor said the partners are cutting costs and aim to make an investment decision next year.

"Sustainable carbon capture and storage projects can only be developed in cooperation between governments and companies," said Eldar Saetre, president and chief executive of Equinor.

 

Write to Dieter Holger at dieter.holger@dowjones.com; @dieterholger

 

(END) Dow Jones Newswires

September 05, 2019 12:58 ET (16:58 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
ArcelorMittal (EU:MT)
Historical Stock Chart
From Jun 2020 to Jul 2020 Click Here for more ArcelorMittal Charts.
ArcelorMittal (EU:MT)
Historical Stock Chart
From Jul 2019 to Jul 2020 Click Here for more ArcelorMittal Charts.