Uchenna Izundu
International Editor
LONDON, Jan. 24 -- Aker Clean Carbon and the Norwegian government will establish a 725 million kroner carbon dioxide capture and sequestration unit at Karsto on the west coast of Norway. Operations are scheduled to begin in 2009. Aker said it expects the plant's carbon sequestration to be cheaper than releasing emissions.
"The plant will have a capacity to remove 100,000 tonnes/year of CO2 from exhaust gasses. Operating costs are estimated at 150 million kroner over a 3-year period," Aker said.
Parent company Aker Kvaerner will design and construct the CO2 capturing facilities and will own 30% of the shares in Aker Clean Carbon, while Aker ASA will own 70%.
Contact Uchenna Izundu at [email protected].