TotalEnergies welcomes partner and customer in Bifrost CCS Project

TotalEnergies, through TotalEnergies E&P Denmark, has entered into a Farm-Down Agreement with CarbonVault (the Danish affiliate of SCHWENK) to hold a 45% interest in the Bifrost Carbon Capture and Storage (CCS) Project and act as operator, alongside CarbonVault (35%) and Nordsøfonden (20%).

• Main announcement: TotalEnergies E&P Denmark will be the operator and hold 45% interest in the Bifrost CCS Project; CarbonVault will hold 35% and Nordsøfonden 20%. The Bifrost Project consists of two offshore CO2 storage licenses approximately 200 kilometers west of the Danish coast. Completion of the transaction is subject to customary conditions including regulatory approvals.
• Background and additional details: SCHWENK selected Bifrost to store its future emissions and the agreement links an industrial emitter’s decarbonization roadmap with TotalEnergies’ CCS capabilities. TotalEnergies cites related projects: Northern Lights (Norway), NEP (UK), Bayou-Bend (US), and Aramis (Netherlands); no implementation timeline beyond regulatory approval was provided.