Altera Infrastructure and its partner Harbour Energy have secured $242 million grant funding from the EU Innovation Fund for the STARFISH project, which aims to provide a large-scale solution for CO2 sequestration using shared offshore infrastructure.
The STARFISH project focuses on an open-access CO2 storage concept that allows captured emissions from multiple sources to be safely stored in the Havstjerne reservoir, located 100 km southwest of Egersund, Norway.
In 2023, the project partners were awarded an exploration license for the reservoir, and Phase 1 of the project is expected to enable the storage of 42.75 million tonnes of CO2-equivalent (CO2-eq) over the first 10 years.
This effort is projected to avoid 42 million tonnes of CO2-eq emissions, with a relative greenhouse gas (GHG) avoidance potential of 98%.
Short for Sequestration Technology And Reservoir: Floating Injection and Storage in Havstjerne, STARFISH is the first offshore CO2 storage project designed to transport liquid CO2 via purpose-built ships directly to an offshore reservoir. This approach allows for a streamlined, cost-efficient process, according to the partners.
The project will feature a specially designed injection unit capable of directly receiving large volumes of liquid CO2 from transport vessels for secure and permanent storage.
"This funding award is a significant validation of our innovative Stella Maris CCS approach to CO2 transport and storage infrastructure. As we work towards achieving the goals of the Paris Agreement, CCS projects like STARFISH are essential for safely and permanently storing captured CO2.
“We are honored that the EU Innovation Fund recognizes our commitment to advancing Europe's industrial carbon management capabilities and grateful for this significant funding award, which is invaluable in helping to develop and construct the critical STARFISH project infrastructure,” said Duncan Donaldson, Acting CEO of Altera Infrastructure.
STARFISH is part of Altera’s broader Stella Maris carbon capture and storage (CCS) initiative, which aims to provide cost efficient floating CCS infrastructure solutions for a global market, not limited to size nor geographical location.
The EU Innovation funding is subject to the successful conclusion of the grant agreement preparation process, which could be finalized by the first quarter of 2025, following necessary checks and reviews.