08:30 AM EDT, 09/26/2024 (MT Newswires) -- TotalEnergies (TTE) and Equinor ( EQNR ) said Thursday that, together with Shell (SHEL), they completed CO2 receiving and storage facilities for the Northern Lights joint venture in Norway.

The project, which includes a terminal, a 100 km subsea pipeline, and injection facilities, is ready to begin CO2 injections in 2025, TotalEnergies said.

Northern Lights, owned equally by TotalEnergies, Equinor ( EQNR ) and Shell, has an initial capacity of 1.5 million tons of CO2 per year with plans underway to expand it to over 5 million tons of CO2 annually in the second phase, TotalEnergies said.

Shares of TotalEnergies, Equinor ( EQNR ) and Shell were down 2.3%, 1.7%, and 4.3% in recent premarket activity.

Price: 65.16, Change: -1.50, Percent Change: -2.25