Denmark: TotalEnergies, through its subsidiary TotalEnergies E&P Denmark, has signed a Farm-Down Agreement with CarbonVault, the Danish affiliate of German cement producer Schwenk, for the Bifrost carbon capture and storage (CCS) project. Under the deal, TotalEnergies will operate the project with a 45% interest, while CarbonVault will hold 35% and state-owned oil and gas company Nordsøfonden 20%. The Bifrost Project covers two offshore CO₂ storage licenses located about 200km west of the Danish coast and forms part of TotalEnergies’ broader North Sea CCS portfolio. Schwenk has identified Bifrost as its preferred solution for storing future emissions, aligning with its European decarbonisation strategy.

Arnaud Le Foll, senior vice president new business – carbon neutrality at TotalEnergies, said “We look forward to working with our new partner to ensure the successful deployment of the Bifrost Project, a cornerstone of Denmark’s national ambition to establish a European hub for CO₂ storage.”

Completion of the transaction remains subject to customary conditions, including regulatory approvals.