Nov. 22 (Bloomberg) -- The North Sea could store all the carbon produced by power plants and industry in Europe, Norway’s E24 Web site reported, citing Erik Lindeberg, a scientist at the country’s SINTEF Petroleum Research institute.

The North Sea could be used to store about 500 billion tons of carbon dioxide, enough to cover the European Union’s emissions for 300 years, E24 cited Lindeberg as saying yesterday. Carbon storage could become a major industry in Norway, equaling the country’s petroleum industry in importance, Lindeberg said, according to E24.

To contact the reporter on this story: Niklas Magnusson in Stockholm at nmagnusson1@bloomberg.net

Last Updated: November 22, 2009 06:17 EST