Finland and Norway Enhance Energy Sector Collaboration with CO2 Transport and Storage Initiative

Finnish Minister of Climate and the Environment Kai Mykkänen and Norwegian Minister of Energy Terje Aasland held a virtual meeting to discuss enhancing energy sector cooperation between their nations. 

The ministers agreed to initiate a collaborative effort focused on the transportation and storage of carbon dioxide (CO2), at the meeting. This initiative supports Finland's climate policy, which prioritizes developing and implementing technical carbon sinks. 

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Due to the unsuitability of Finnish soil for permanent CO2 storage, Norway, with over 27 years of expertise in safely sequestering CO2 beneath the seabed, will provide a vital solution.  

The Norwegian Government plans further to advance its continental shelf for commercial CO2 storage, offering this as a service and market opportunity for emission sources.  

This partnership will allow Finland to establish a framework for transporting CO2 to Norway for secure storage, facilitating a significant step in both countries' climate strategies. 

“Finland has a lot of potential in the capture and use of biogenic carbon. In addition, we want to make it possible to store carbon dioxide permanently. The cooperation to be launched with Norway will improve the conditions for the clean growth of companies and for the development of technological solutions,” Finnish Minister of Climate and the Environment Kai Mykkänen said.  

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The goal is to formalize a Memorandum of Understanding (MoU) between Finland and Norway to facilitate cross-border CO2 transportation for permanent geological storage.  

Before the MoU can be signed, Finland must complete several procedural steps per international agreements, including drafting a government proposal and securing parliamentary approval. 

The discussions also entailed topics such as the Nordic electricity markets and transmission grid development, energy security, the protection of critical energy infrastructure, and Finland's experiences with nuclear energy.