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Core Points - The world's first full-chain carbon capture and storage (CCS) project, known as "Longship," has commenced commercial operations in Norway, marking a significant breakthrough in the field of carbon capture and storage [1][2] - The project has a total investment of 34 billion Norwegian Krone (approximately 3.38 billion USD) and aims to sequester 1.5 million tons of CO2 annually by 2028, increasing to 5 million tons thereafter [2][3] Investment and Funding - The Norwegian government has provided approximately 22 billion Norwegian Krone (2.19 billion USD) in subsidies for the construction and operation of the project, while the EU has allocated 131 million Euros (150 million USD) as part of its climate strategy [3] - The project is a collaboration between the Norwegian state oil company, Shell, and TotalEnergies, with Chinese shipbuilding companies involved in constructing the CO2 transport vessels [3] Technical and Operational Aspects - The "Longship" project captures CO2 from a waste incineration plant and a cement factory in Oslo, transporting it to a seabed geological layer 2,600 meters deep for permanent storage [2][4] - Norway's geographical features and existing oil and gas infrastructure provide a significant potential for CO2 storage, estimated at around 700 billion tons [4][6] Government Support and Regulatory Framework - The Norwegian government has recognized the negative impacts of carbon emissions since 1991, implementing a carbon tax that has fostered the development of the CCS industry [4][5] - A dedicated government agency, Gassnova, has been established to oversee the CCS projects, ensuring effective coordination and risk management [8] Lessons for Other Countries - The "Longship" project serves as a model for other nations, demonstrating the importance of government investment in initiating projects and transitioning to commercial operations [7][8] - The project highlights the need for a comprehensive regulatory framework to build investor confidence and ensure sustainable development in the CCS sector [8]