TotalEnergies has entered into an agreement with CapeOmega Carbon Storage AS to acquire the 40% participating interest held by CapeOmega in the CO2 storage exploration license ExL004, also known as the “Luna” project, according to an Aug. 22 press release.

The Luna project covers an area of 453 sq.km in 120 km offshore Bergen in 200 m water depth, according to the release. It is located near the Northern Lights CO2 storage project, 33% of which is also owned by TotalEnergies. The Northern Lights CO2 storage project is currently in development and is expected to begin in 2024.

“With the Northern Lights start-up in 2024 and other projects under development in the Netherlands, Denmark and the UK, TotalEnergies is building a world-class carbon storage portfolio across the North Sea,” said Arnaud Le Foll, senior vice president new business – carbon neutrality at TotalEnergies. Norway will play a leading role in this portfolio thanks to its large geological storages and supportive government policies.”

ExL004 is operated by Wintershall DEA Norge AS with a participating interest of 60%.