Baker Hughes announced that it has signed a memorandum of understanding (MoU) with Borg Co2 to collaborate on developing a carbon capture and storage (CCS) project to serve as a hub for the decarbonization of industrial sites in the Viken region of Norway, a press release reported.
The project aims to capture and store up to 90% of the CO2 emissions from the involved industrial facilities in the cities Fredrikstad, Sarpborg and Halden. It came in the light of Paris Agreement goals, the United Nations Sustainable Development Goals as well as the Norwegian national emissions reduction targets.
Borg CO2 and its partners have completed a first feasibility study and they are currently proceeding with an extended feasibility study to be completed by the end of 2021. Baker Hughes will support the study and the hub development with its portfolio of carbon capture technologies and engineering services .
In addition, Baker Hughes and Borg CO2 will jointly evaluate the optimal structure for the carbon capture plants and pursue grant and incentive opportunities in Norway and at the  EU level.