Poland’s Orlen and Norway’s Equinor have teamed up to explore opportunities within Carbon Capture and Storage (CCS) technology.
The management boards of both companies have signed a collaboration agreement, covering the transport and storage of carbon dioxide (CO2) in Poland.
Under the agreement, Orlen and Equinor will jointly identify potential CO2 storage sites, considering both land-based locations and areas within the Polish section of the Baltic Sea. In the next step, the partners will assess the feasibility of joint projects based on the identified storage locations in Poland.
"We are joining forces with an experienced and driven partner to develop unique know-how in the CCS technology. Building on this knowledge, we aim to establish a new, forward-looking business area that will boost our decarbonization potential.
“At the same time, the initiative has the potential to serve as a catalyst giving rise to an entire ecosystem of businesses that could grow, create value, and generate new jobs. This is how we fulfil our role as the energy transition leader,” said Wiesław Prugar, Member of the Orlen Management Board, Upstream.
"Building on an already well-established energy partnership, this agreement marks another step in our collaboration with Orlen.
“Both companies are committed to delivering energy security while progressing low carbon solutions and development of renewable energy. We look forward to working together with Orlen to identify potential CO₂ storage opportunities in Poland where the two companies could complement each other’s strengths”, added Irene Rummelhoff, EVP Marketing, Midstream and Processing in Equinor.