February 26, 2025 [Storage Termianls Magazine]- Yinson Production has successfully completed the acquisition of one hundred percent of the shares in Stella Maris CCS AS from Altera Infrastructure.
Stella Maris, a Norway-based carbon capture and storage company, is engaged in developing a comprehensive CCS value chain. Its operations encompass carbon capture, intermediate storage, offshore transportation, and the permanent sequestration of CO2 from industrial sources. A key asset of Stella Maris is its forty percent stake in the Havstjerne Reservoir on the Norwegian Continental Shelf. Developed in collaboration with Harbour Energy, the Havstjerne CO2 injection and storage project is a central component of Stella Maris’ activities, with its technical feasibility validated through extensive seismic data and reservoir studies.
The European Union’s Innovation Fund has selected the Havstjerne CO2 injection and storage project for a grant of up to EUR 225 million, to be disbursed upon the achievement of specified investment and commercial operation milestones. This grant represents the largest European Union funding awarded to a CCS initiative, highlighting the project’s significance in advancing Europe’s decarbonisation objectives.
The acquisition of Stella Maris enhances Yinson Production’s presence in the emerging low-carbon market and marks a crucial milestone in its decarbonisation strategy. The move reinforces the company’s commitment to supporting the global energy transition.
Lars Gunnar Vogt, chief technical officer of Yinson Production, stated, “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.”
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