Hydro joins new CO2 project at Mongstad

(June 21, 2007) Hydro has entered into an agreement to participate in the development of a test centre - "European CO2 Test Centre Mongstad" - for the capture of CO2 at Mongstad, southwest Norway.

TEST CENTRE: Alexandra Bech Gjørv, head of New Energy in Hydro, is pleased to contribute with Hydro's technology knowledge in developing the new test centre for CO2 capture. (Photo: Terje S. Knudsen)

Partners in the project are the Norwegian Ministry of Petroleum and Energy, Statoil, Norske Shell, Dong Energy Generation and Vattenfall. The cooperation agreement regulates the planning and preparation phase of the test facility for capture of CO2 and will extend until an investment decision is made, expected in the first quarter of 2008.

"Hydro has in many years worked with the challenges connected to CO2. Our research activities have first and foremost been aimed at CO2 capture since it represents two thirds of the cost within the capture and storage of CO2. We are therefore very pleased to be able to contribute our technological know-how in this partnership," says Senior Vice President Alexandra Bech Gjørv, head of the New Energy area in Hydro.

The aim of the project is to gain knowledge and develop solutions which help to reduce the costs and the technical and financial risks of large scale CO2 capture.

Hydro has, in recent years, built up a broad portfolio within new energy. The company is one of the main players within wind power in Norway both on land and offshore, and it takes part in a number of hydrogen projects in Europe. Hydro is also exploring the possibility of producing bio diesel from wood and is part owner in a wave power company. The company also has extended its portfolio to include solar power.