Save for later Print Download Share LinkedIn Twitter Oil-field services provider Baker Hughes and Norway's Borg CO2 are studying the possibility of capturing and storing carbon dioxide emissions from industrial plants in Norway. The two companies have signed a memorandum of understanding, outlining plans for a project that would capture and store up to 630,000 tons of CO2 emissions a year in southeast Norway. They noted that some 70% of emissions from the industrial sites in question are biogenic, meaning they are caused by the combustion or decomposition of organic material. They said industrial plants that are part of the proposed project could therefore potentially generate revenue "by selling negative CO2 emissions." Both companies said they will seek financial support for the project from the Norwegian government and from the European Union. There is growing interest in the idea of industrial carbon capture and storage clusters as a potentially economic way to capture, transport and store CO2 from industrial activities that are difficult to electrify such as the manufacturing of cement or steel. Such schemes have also been proposed in the UK, the Netherlands and elsewhere in Norway (IOD May14'21).