TotalEnergies (TTE) has entered into a farm-down agreement with CarbonVault, the Danish affiliate of the German cement producer Schwenk. Under this agreement, TotalEnergies E&P Denmark will hold a 45% interest in the Bifrost carbon capture and storage project as the operator, alongside CarbonVault and Nordsofonden. The Bifrost project, which comprises two CO2 offshore storage licenses located approximately 200 kilometers west of the Danish coast, is part of TotalEnergies’ North Sea CCS portfolio. This partnership within the Bifrost project illustrates how TotalEnergies can contribute to its customers’ own emissions reduction by combining the decarbonization roadmap of an industrial emitter with the capabilities of a CCS developer. Completion of the transaction is subject to customary conditions, including regulatory approvals.
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