# Aker BP and Höegh Evi secure EU funding for Atlas CO₂ project

- **Source:** https://pelavox.com/aker-bp-hoegh-evi-atlas-eu-funding/
- **Publisher:** pelavox. (The voice of shipping)
- **Author:** Jason Nicholson
- **Published:** 2026-10-22T16:00:00+00:00
- **Updated:** 2026-10-21T21:59:08+00:00
- **Section:** General
- **Type:** News
- **Topics:** Aker BP, Atlas Project, Carbon Capture and Storage, CO₂ Shipping, EU Innovation Fund, Höegh Evi

Aker BP and Höegh Evi have secured €223 million from the European Union Innovation Fund for the Atlas Project, a proposed large-scale carbon dioxide transport and storage network linking European industrial regions with permanent offshore storage on the Norwegian Continental Shelf.

The project will combine regional CO₂ collection hubs, dedicated low-pressure CO₂ carriers and subsea storage infrastructure. Captured carbon dioxide will be aggregated near industrial clusters before being transported by sea to a designated storage location in the Norwegian North Sea.

Atlas is designed to handle 6 million tonnes of CO₂ annually, with potential capacity expansion beyond 10 million tonnes per year as the European carbon capture and storage (CCS) market develops.

## Maritime transport at the centre of the network

The Atlas concept relies on large-scale maritime transportation to connect industrial CO₂ sources across Europe with a common offshore storage location.

Under the proposed system, CO₂ will be collected at regional export hubs and shipped aboard dedicated carriers to the Atlas storage site. The approach is intended to provide flexibility for connecting additional industrial regions as demand for carbon transportation and storage services increases.

The offshore storage location lies within licence EXL011, operated by Aker BP with an 80% interest, while ORLEN Upstream Norway holds the remaining 20%.

Once transported to the site, CO₂ is planned to be injected through subsea infrastructure into a saline aquifer more than 2,000 metres below the seabed for permanent storage.

Nils Jakob Hasle, Executive Vice President Clean Energy at Höegh Evi, said the combination of regional aggregation and large-scale low-pressure shipping could provide a flexible connection between European industrial centres and permanent CO₂ storage.

## Investment decision targeted for 2028

Atlas was designated an EU Project of Mutual Interest (PMI 13.17) in April 2026, recognising its role as proposed cross-border CO₂ infrastructure.

The project is currently in the Select phase, with Aker BP and Höegh Evi targeting a final investment decision in 2028 and the first CO₂ injection from 2031.

The €223 million Innovation Fund award is intended to support implementation of the network, subject to the final investment decision.

The companies have not announced that construction has commenced or that the proposed transport and storage network is operational.

---
Cite as: "Aker BP and Höegh Evi secure EU funding for Atlas CO₂ project", pelavox., 22 October 2026, https://pelavox.com/aker-bp-hoegh-evi-atlas-eu-funding/