Finnish Minister Kai Mykkänen and Norwegian Minister Terje Aasland agree on carbon dioxide collaboration

Finnish Minister of Environment and Climate Kai Mykkänen and Norwegian Minister of Energy Terje Aasland have agreed to collaborate on carbon dioxide transport and storage, according to the Finnish Ministry of the Environment. This initiative involves technical carbon sinks, which the government led by Petteri Orpo has identified as a key climate policy project.

The government has previously indicated that these technical sinks would help reduce emissions from the forestry industry and bioenergy plants. The goal is to capture CO2 emissions directly from the source, transport them by ship to Norway, and store them permanently beneath the seabed. This agreement allows Finnish companies to start engaging in transportation and storage.

“My Finland has significant potential for capturing and utilizing biogenic carbon. Moreover, we want to enable permanent storage of carbon dioxide. The collaboration with Norway creates opportunities for clean growth for companies and the development of technological solutions,” Mykkänen stated in a press release.

Currently, Norway is the closest location to Finland where permanent carbon storage is feasible, as Finnish soil is not suitable for storage. Norway’s storage site is located deep beneath the seabed, where liquefied CO2 is injected into geological formations. Norway has over 27 years of experience in carbon dioxide storage.

“We have the capacity to store large amounts of carbon dioxide on the Norwegian continental shelf, which will assist in creating service and market opportunities to reduce emissions in Europe,” Aasland remarked.

The Ministry did not disclose a detailed timeline for the project. According to the announcement, Finland and Norway will soon sign a “memorandum of understanding,” which must complete the necessary procedures in line with international agreements, requiring government preparation and parliamentary approval in Finland.