News, Oil & Gas

Further funding for the Technology Centre Mongstad

In the National Budget 2014, the Government is proposing further funding of NOK 450 million for the Technology Centre Mongstad (TCM) over the period 2014 to 2017. NOK 150 million of funding is proposed for 2014. “The Government wishes to...

In the National Budget 2014, the Government is proposing further funding of NOK 450 million for the Technology Centre Mongstad (TCM) over the period 2014 to 2017. NOK 150 million of funding is proposed for 2014.

“The Government wishes to strengthen efforts to develop COcapture technology. TCM is the world’s largest centre of its kind, and has the capacity to test several different types of technology for this purpose. The work being done at TCM is important for achieving the objective of developing cost-effective COcapture technologies,” says Minister of Petroleum and Energy Ola Borten Moe.

The new funds will be used to modify and further develop the existing facilities at TCM, and for the centre’s testing of new technologies.

TCM is owned by the Norwegian State (72.12 per cent, through Gassnova), Statoil (20 per cent), Shell and Sasol (2.44 per cent each). Read more about the test centre on the TCM website.