{"id":505410,"date":"2021-06-22T08:06:57","date_gmt":"2021-06-22T12:06:57","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\/"},"modified":"2021-06-22T08:06:57","modified_gmt":"2021-06-22T12:06:57","slug":"baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\/","title":{"rendered":"Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Baker Hughes and Borg CO<sub>2<\/sub> to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway <\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><i>Landmark project aims to capture and store up to 630,000 tonnes of carbon dioxide (CO<sub>2<\/sub>)<sub \/>emissions annually &#8211; including <\/i>~<i>70% that are biogenic &#8211; from three main locations.<\/i><\/li>\n<li><i>Borg CO<sub>2<\/sub> and Baker Hughes aim to progress plans for CO<sub>2 <\/sub>capture, liquefaction, and transportation on a waste-to-energy plant in Sarpsborg and develop plans for emitters in Fredrikstad using Baker Hughes\u2019 technology.<\/i><\/li>\n<\/ul>\n<p>HOUSTON, LONDON &amp; FREDRIKSTAD, Norway&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nBaker Hughes (NYSE: BKR), an energy technology company, and Borg CO<sub>2<\/sub> AS, a Norwegian carbon capture and storage developer for industrial clusters, have announced a memorandum of understanding (MOU) to collaborate on a carbon capture and storage project to serve as a hub for the decarbonization of industrial sites in the Viken region of Norway. The project aims to capture and store up to 90% of the CO<sub>2<\/sub> emissions from the involved industrial sites, playing an important role in contributing to the Paris Agreement goals, the United Nations Sustainable Development Goals and the Norwegian national emissions reduction targets.\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210622005430\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210622005430\/en\/<\/a><\/p>\n<p>\nThe Borg CO<sub>2<\/sub> project includes several industry partners, as well as the Port of Borg, and aims to capture and store emissions from industrial facilities located in the cities of Fredrikstad, Sarpborg and Halden. The combined industrial cluster is currently responsible for approximately 700,000 tonnes of CO<sub>2 <\/sub>emissions annually. After being captured, the CO<sub>2<\/sub> will be liquified, shipped and eventually stored underneath the seabed of the North Sea. In April 2021, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fnorthernlightsccs.com%2Fnews%2Fcollaboration-with-borg-co2-on-carbon-capture-and-storage%2F&amp;esheet=52449199&amp;newsitemid=20210622005430&amp;lan=en-US&amp;anchor=Borg+CO2+announced+an+MOU+with+Northern+Lights+JV%2C+who+will+provide+shipping+and+storage+of+CO2+as+a+service+provider+for+Borg+CO2&amp;index=1&amp;md5=b7a1d441c1536c9a19e6935b128d14f6\">Borg CO<sub>2<\/sub> announced an MOU with Northern Lights JV, who will provide shipping and storage of CO<sub>2<\/sub> as a service provider for Borg CO<sub>2<\/sub><\/a><sub>.<\/sub><\/p>\n<p>\nBorg CO<sub>2<\/sub> and its partners have completed a first feasibility study and are proceeding with an extended feasibility study (pre-FEED) to be completed by the end of 2021 which Baker Hughes will support with its portfolio of carbon capture technologies and engineering services for the study and development of the hub. In addition, Baker Hughes and Borg CO<sub>2<\/sub> will jointly evaluate the optimal structure for implementation of the carbon capture plants and pursue grant and incentive opportunities both in Norway and at the EU level.\n<\/p>\n<p>\nBorg CO<sub>2<\/sub>\u2019s \u201cindustrial cluster\u201d approach provides a prime opportunity for Baker Hughes to test and scale its wide-ranging carbon capture, utilization and storage (CCUS) technologies portfolio on several types of processes including its Chilled Ammonia Process (CAP) and Compact Carbon Capture (CCC) solutions.\n<\/p>\n<p>\n\u201cToday, industrial clusters represent around <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fi2-4c.eu%2Fwp-content%2Fuploads%2F2017%2F10%2Fi24c-report-Deployment-of-an-industrial-CCS-cluster-in-Europe-2017-Final-.pdf&amp;esheet=52449199&amp;newsitemid=20210622005430&amp;lan=en-US&amp;anchor=20%25+of+Europe%26%238217%3Bs+CO2+emissions&amp;index=2&amp;md5=64eaeb2a6844d4174b890f19cb3e47ee\">20% of Europe\u2019s CO<sub>2<\/sub> emissions<\/a>. Meaningful decarbonization is not possible without carbon capture, utilization and storage, and this collaboration demonstrates how CCUS technology is accelerating from concept toward commercialization with real-world impact,\u201d said Rod Christie, executive vice president of Turbomachinery &amp; Process Solutions at Baker Hughes. \u201cOur collaboration with Borg CO<sub>2<\/sub> will accelerate development of new energy frontiers like CCUS, and we believe it is critical to help them at an early stage by strategically supporting with our best in class technology.\u201d\n<\/p>\n<p>\n\u201cWith the technology competencies and experience of Baker Hughes supporting us, we believe that Borg CO<sub>2<\/sub> is better positioned to take the next steps towards commercialization and achieve our goals for the project,\u201d said Tore Lundestad, managing director of Borg CO<sub>2<\/sub> and Harbour Master for the port of Borg. \u201cA project like this showcases a win-win approach where permanent storage combined with the possibility of sustainable usage of smaller volumes of biogenic CO<sub>2<\/sub> will help to achieve net-zero, and with the industrial facilities potentially receiving revenue by selling negative CO2 emissions\u201d.\n<\/p>\n<p>\nThe <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bakerhughes.com%2Fcarbon-capture-use-and-storage-ccus&amp;esheet=52449199&amp;newsitemid=20210622005430&amp;lan=en-US&amp;anchor=Baker+Hughes+CCUS+portfolio&amp;index=3&amp;md5=85098ac34079bd31a2665171b536d152\">Baker Hughes CCUS portfolio<\/a> features advanced turbomachinery, solvent-based state-of-the-art capture processes, well construction and management for CO<sub>2<\/sub> storage, and advanced digital monitoring solutions. Baker Hughes has a longstanding presence in Norway with six facilities and approximately 2,000 employees.\n<\/p>\n<p><b>About Baker Hughes<br \/>\n<br \/><\/b>Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward \u2013 making it safer, cleaner and more efficient for people and the planet. Visit us at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bakerhughes.com&amp;esheet=52449199&amp;newsitemid=20210622005430&amp;lan=en-US&amp;anchor=www.bakerhughes.com&amp;index=4&amp;md5=ae04ce4e5bb96d321df4555d317eef39\">www.bakerhughes.com<\/a>.\n<\/p>\n<p><b>About Borg CO<sub>2<br \/>\n<br \/><\/sub><\/b>Borg CO<sub>2<\/sub> AS is a Norwegian Limited Liability Company. Its purpose is to develop carbon capture and storage (CCS) technology, primarily for industrial facilities in Viken (\u00d8stfold), Norway. Since 2018, it has worked on mapping the opportunity to develop CCS for an industrial cluster and has recently finished a complete feasibility study. The feasibility study had 18 partners representing process industry, waste management, logistics, energy, carbon capture technology, technology providers and academia. Borg CO<sub>2<\/sub> are now conducting a pre-FEED with 9 partners and CLIMIT support, based on the feasibility study. The CO<sub>2<\/sub> capture potential of the full-scale CCS cluster is 630,000 tonnes annually from five regional industrial sources. The port of Borg will serve as a host for a future CO<sub>2 <\/sub>terminal. Borg CO<sub>2<\/sub> is supported by CLIMIT, a national programme for research, development and testing of CCS technologies. Visit: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.borgco2.no&amp;esheet=52449199&amp;newsitemid=20210622005430&amp;lan=en-US&amp;anchor=www.borgco2.no&amp;index=5&amp;md5=4ff95fb07183489a41e29556538e591e\">www.borgco2.no<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210622005430r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210622005430\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210622005430\/en\/<\/a><\/span><\/p>\n<p><b>For Baker Hughes:<\/b><\/p>\n<p><b>M<\/b><b>edia Relations<br \/>\n<\/b><br \/>Helen Roberts<br \/>\n<br \/>+44 (0)7557 812474<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Helen.Roberts@bakerhughes.com\">Helen.Roberts@bakerhughes.com<\/a><\/p>\n<p><b>Investor Relations<br \/>\n<\/b><br \/>Jud Bailey<br \/>\n<br \/>+1 281-809-9088<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investor.relations@bakerhughes.com\">investor.relations@bakerhughes.com<\/a><\/p>\n<p><b>For Borg CO<sub>2<\/sub>: <\/b><\/p>\n<p><b>Media Relations<br \/>\n<\/b><br \/>Jon Hermansen, Project manager<br \/>\n<br \/>+ 47 94813171<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:jon@biobe.no\">jon@biobe.no<\/a><\/p>\n<p>\nP\u00e5l Mikkelsen, Chair of the steering committee<br \/>\n<br \/>+ 47 94833423<br \/>\n<br \/><span class=\"bwuline\"><a rel=\"nofollow\" href=\"mailto:post@stormkastutvikling.no\">post@stormkastutvikling.no<\/a><\/span><\/p>\n<p><b>KEYWORDS:<\/b> Texas North America United States United Kingdom Europe Norway<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Alternative Energy Energy Environment Oil\/Gas<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210622005430\/en\/752999\/3\/bh_lg_hrz_rgb_pos.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210622005430\/en\/886756\/3\/Logo_Borg_CO2.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway Landmark project aims to capture and store up to 630,000 tonnes of carbon dioxide (CO2)emissions annually &#8211; including ~70% that are biogenic &#8211; from three main locations. Borg CO2 and Baker Hughes aim to progress plans for CO2 capture, liquefaction, and transportation on a waste-to-energy plant in Sarpsborg and develop plans for emitters in Fredrikstad using Baker Hughes\u2019 technology. HOUSTON, LONDON &amp; FREDRIKSTAD, Norway&#8211;(BUSINESS WIRE)&#8211; Baker Hughes (NYSE: BKR), an energy technology company, and Borg CO2 AS, a Norwegian carbon capture and storage developer for industrial clusters, have announced a memorandum of understanding (MOU) to collaborate on a carbon capture and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-505410","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway Landmark project aims to capture and store up to 630,000 tonnes of carbon dioxide (CO2)emissions annually &#8211; including ~70% that are biogenic &#8211; from three main locations. Borg CO2 and Baker Hughes aim to progress plans for CO2 capture, liquefaction, and transportation on a waste-to-energy plant in Sarpsborg and develop plans for emitters in Fredrikstad using Baker Hughes\u2019 technology. HOUSTON, LONDON &amp; FREDRIKSTAD, Norway&#8211;(BUSINESS WIRE)&#8211; Baker Hughes (NYSE: BKR), an energy technology company, and Borg CO2 AS, a Norwegian carbon capture and storage developer for industrial clusters, have announced a memorandum of understanding (MOU) to collaborate on a carbon capture and &hellip; Continue reading &quot;Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-22T12:06:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210622005430r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; 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Storage Hub for Industrial Cluster in Norway - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\/","og_locale":"en_US","og_type":"article","og_title":"Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway - Market Newsdesk","og_description":"Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway Landmark project aims to capture and store up to 630,000 tonnes of carbon dioxide (CO2)emissions annually &#8211; including ~70% that are biogenic &#8211; from three main locations. Borg CO2 and Baker Hughes aim to progress plans for CO2 capture, liquefaction, and transportation on a waste-to-energy plant in Sarpsborg and develop plans for emitters in Fredrikstad using Baker Hughes\u2019 technology. HOUSTON, LONDON &amp; FREDRIKSTAD, Norway&#8211;(BUSINESS WIRE)&#8211; Baker Hughes (NYSE: BKR), an energy technology company, and Borg CO2 AS, a Norwegian carbon capture and storage developer for industrial clusters, have announced a memorandum of understanding (MOU) to collaborate on a carbon capture and &hellip; Continue reading \"Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; Storage Hub for Industrial Cluster in Norway\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\/","og_site_name":"Market Newsdesk","article_published_time":"2021-06-22T12:06:57+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210622005430r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-borg-co2-to-collaborate-to-develop-carbon-capture-storage-hub-for-industrial-cluster-in-norway\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Baker Hughes and Borg CO2 to Collaborate to Develop Carbon Capture &amp; 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