Altera Infrastructure applies for CO2 storage licence

“If we are awarded the licence, this will be the first commercial, large-scale CCS solution in Europe. CCS is industrial development where we believe strong partnerships are key to successfully deploying a solution which is competitive to the cost of emissions. With Wintershall Dea as an experienced operator, our companies have built a unique partnership with deep knowledge and operational experience across the infrastructure value chain,” said Altera vice president and head of CCS, Johanne Koll-Hansen Bø.

The company said it is in advanced discussions with large emitters and land-based industry clusters across Europe and is confident of having a robust platform in place for the early commercialisation of CCS.

Altera is a supplier of infrastructure assets to the offshore energy industry and has only emerged from chapter 11 bankruptcy recently. It restructured five months after the chapter 11 cases were commenced, and addressed more than US$1Bn of secured and unsecured holding company debt, US$400M of preferred equity, and US$550M of secured asset-level bank debt.

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