Haugaland Næringspark at Gismarvik is the planned location for the onshore CO2 terminal for the large-scale CCS project Errai

06 Jan 2023 07:30 CET

SANDNES – 6 January 2023 – Horisont Energi (EURONEXT: HRGI) has entered into an
option agreement with Haugaland Næringspark to locate the land-based CO2
terminal for the Errai carbon capture and storage project to Gismarvik in
Rogaland, where Haugaland Næringspark has one of Norway's largest industrial
areas. The infrastructure is already in place in the area, with access to fibre,
electricity, water, and sewage, and a large harbour basin with deep-sea quay
ideal for the Errai project. The CO2 terminal will receive CO2 from both
European and Norwegian customers, including from the planned CO2 terminal in the
Port of Rotterdam.

Errai is the first commercial CO2 storage project in Norway, and it can have a
major impact on the development of the carbon market in Europe. The project is a
collaboration between Horisont Energi and Neptune Energy.

- We are pleased to announce this agreement with Haugaland Næringspark after a
thorough process to find a suitable site for this large carbon capture and
storage project. This will be an exciting contribution to the work of developing
new green industry and infrastructure in Rogaland. We see increasing demand for
CO2 storage in Europe and we will build up a European value chain in the market
for carbon capture and storage. This can play a key role in the transition to
net zero emissions," says Bjørgulf Haukelidsæter Eidesen, Managing Director of
Horisont Energi.

In addition to the onshore terminal for intermediate storage and the quay
facility, the Errai project will also include an associated offshore reservoir
for permanent storage of CO2.

- This is an important step for the development of large-scale carbon capture
and storage and paves the way for a value chain that is crucial for reaching the
climate target of net zero emissions by 2050. We look forward to leveraging both
our oil and gas operations capabilities as well as our significant experience
from the operating carbon capture and storage activities.” Says Odin Estensen,
Neptune Energy´s Managing Director of Norway and UK.

The Errai project is a key contributor to Neptune´s goal of storing more than
carbon is emitted from the production and use of its sold products by 2023.

Horisont Energi and Neptune Energy have already applied to the Ministry of
Petroleum and Energy for storage of CO2 in the announced area on the Norwegian
continental shelf. The award of a licence from the Ministry of Petroleum and
Energy is expected to be announced during the first half of 2023. The project
will be in operations in 2026.

The planned CO2 terminal at Gismarvik will have a design that meets the
requirements of the EU taxonomy regarding environmental issues and safety. Errai
can store between four and eight million tonnes of CO2 per year, with the
possibility of storing more in later phases of the project. Horisont Energi
recently announced that E.ON will store more than 1 million tonnes of CO2
annually in Errai.

The CO2 terminal with the planned offshore infrastructure represents new
industrial opportunities for Haugaland Næringspark and other industries in
Haugalandet.

- It is a pleasure to start the year by consolidating Haugalandet and Rogaland
as the centre of the green shift in Norway. This agreement means that the region
now has an important part of the infrastructure for CO2 capture and storage. The
establishment does not require the largest areas in the business park but is of
great importance to decarbonise and restructure existing industry and to
facilitate new industrial establishments and jobs. We are really looking forward
to the cooperation and look forward to the dialogue with industry players who
with this news see even more opportunities with us, says Tiril Fjeld, general
manager of Haugaland Næringspark.

In the autumn of 2022, Horisont Energi and Neptune Energy hosted a supplier
screening day. It was a successful event and there was great interest for the
new climate project in the supplier market. Horisont Energi and Neptune Energy
have recently awarded contracts for various concept studies for the early phase
of the project. In the future, further studies on environmental and safety
requirements in line with the EU taxonomy will be carried out.

Horisont Energi and Neptune Energy aim to deliver a project that meets future
environmental requirements and helps to set a standard for such facilities and
thereby become a reference project for CO2storage in a Norwegian and European
context.

Horisont Energi
Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that
provides clean energy and carbon transport and storage services. The company
will transform natural and renewable gases, water and renewables into
cost-leading pure ammonia and hydrogen and provide CO2 transport and storage
services using proprietary technology, paving the way for a low-carbon economy.
The company was founded in 2019 and is headquartered in Sandnes, Norway.
www.horisontenergi.no

Neptune Energy Group
Neptune Energy is an independent global E&P company with activities in the North
Sea, North Africa, and Southeast Asia. The company had a production of 130,000
net barrels of oil equivalent per day in 2021 and 2P reserves of 604 million
barrels of oil equivalent as of December 31, 2021. Neptune aims to store more
carbon than is emitted from the operation and use of the products sold by 2030.
Founded by Sam Laidlaw, the company has three strategic investors: China
Investment Corporation, The Carlyle Group, and CVC Capital Partners.
www.neptuneenergy.com

Haugaland Næringspark
Haugaland Næringspark is Norway's largest fully regulated industrial area, with
as many as 5,000 acres set aside for the industries of the future. The five
owner municipalities (Haugesund, Karmøy, Tysvær, Bokn and Vindafjord) have spent
20 years regulating the area and establishing infrastructure such as roads,
water, fibre, and their own deep-water quay. With ample access to both regulated
industrial space and electricity in the years to come, and with a central
location in an industrially strong region with sustainable logistics solutions
and a short distance to Europe, Haugaland Næringspark is an ideal location for
many of the power and area-intensive industries of the future.
https://haugaland-park.no

For more information, please contact:
Horisont Energi
Bjørgulf Haukelidsæter CEO & founder
+47 990 36 892
bhe@horisontenergi.com

Siri Melberg, Head of Communications
+47 470 35 718
sm@horisontenergi.com

Neptune Energy Norway
Liv Jannie Omdal, Head of Communications
+47 97 66 71 37
liv.jannie.omdal@neptuneenergy.com

Haugaland Næringspark
Tiril Fjeld, CEO
tiril.fjeld@haugaland-park.no

Karoline Sjøen Andersen, Head of Communications
+47 414 08 350
Karoline.sjoen@haugaland-park.no

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