BREAKING: Norway’s state budget and CCS

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The Norwegian state budget has today been presented by the outgoing Red-Green coalition government and proposes and allocation of nearly 18.5 million euro (NOK 150m) to the remainder of the Mongstad project for this year, with a budget of 450 million for the period 2014-2017.

These funds are to be spent on modification and further development of the existing facilities at the TCM as well as a strengthening of the work to test new technologies. The incoming ‘blue-blue’ coalition has previously signaled its intent to continue the test centre.

In addition to this, there will be an increase of equity to the ‘climate fund’, a government fund for investments in climate change mitigation in developing countries, with a little over 600 million euro (NOK 5 billion).  The research, development and demonstration programme CLIMIT will also receive 12.3 million euro (NOK 100m) more funding over the next two years. CLIMIT works to develop new and more efficient technological solutions to CO2 management. 

Bellona

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