Home Fossil Energy Yinson Production broadens its carbon capture and storage horizons with Stella Maris CCS buy
February 19, 2025,
by
Melisa Cavcic
Malaysia’s Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson Holdings, has opened itself up to new decarbonization inroads with the acquisition of Norway-based Stella Maris carbon capture and storage (CCS) business that aims to unlock large-scale floating collection, transport, and offshore storage of CO2.
Stella Maris CCS; Source: Altera Infrastructure
The acquisition of Stella Maris CCS from the UK-based Altera Infrastructure not only gives Yinson Production full ownership of the Norwegian company developing a full CCS value chain, including carbon capture, intermediate storage, offshore transportation, and permanent sequestration of CO2 captured from industrial sources but also expands the Malaysian player’s carbon capture and storage ecosystem.
Lars Gunnar Vogt, Chief Technical Officer of Yinson Production, commented: “This successful acquisition reinforces Yinson Production’s commitment to driving innovation and sustainability within the energy sector and our role in shaping Europe’s decarbonisation efforts.
“The acquisition of Stella Maris is a logical step in expanding our portfolio of strategic investments within the carbon capture space, and we are excited to integrate these solutions to help industrial emitters in achieving their decarbonisation targets.”
The 40% stake in the Havstjerne Reservoir, concerning the Havstjerne CO2 injection and storage project on the Norwegian Continental Shelf (NCS), which was developed in partnership with Harbour Energy, is said to represent a cornerstone of Stella Maris’ activities, with its technical feasibility validated by extensive seismic data and reservoir studies.
According to Yinson Production, the grant of up to €225 million, payable against expenditures upon certain investment and commercial operation milestones, which the Havstjerne CO2 injection and storage project secured from the European Union’s Innovation Fund, represents the largest EU grant for a CCS project and underscores the significance of the initiative in advancing Europe’s decarbonization efforts.
“The acquisition of Stella Maris expands our presence in the emerging low carbon market and marks a significant milestone in our decarbonisation strategy, reinforcing our commitment to supporting the global energy transition,” emphasized the Malaysian giant.
Since CCS is portrayed by many as one of the main tools in the global decarbonization toolbox to reach the 1.5-degree Paris Agreement goal, the Stella Maris CCS solution, launched in 2019, will offer a chain of large-scale floating infrastructure for the collection, transport, and injection of CO2 into subsea reservoirs/aquifers.
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While describing the Stella Maris CCS project, its former owner said it would bring CO2 from the market back to the reservoir, with the main element of the logistic chain encapsulating floating CO2 collection, storage, and offloading hub (CCSO) located in the proximity of a central industry cluster, allowing for the reception and further conditioning of various grades and states of CO2.
The project also entails an offshore offloading system with dual buoys ensuring continuous injection and shuttle tankers with a capacity of 50,000 cubic meters of liquid CO2 under low pressure,