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Norway Boosts Mongstad Carbon-Storage Site Cost to $985 Million

Norway revised the cost estimate for the Mongstad carbon capture and storage test center up by 257 million kroner to 5.77 billion kroner ($985 million), the Ministry of Petroleum and Energy said today in a statement on its website in connection with the 2012 budget bill. The test center is 80 percent complete and will start operating next year, it said.

The government is allocating 1.7 billion kroner to the test center in 2012, the ministry said.

To contact the editor responsible for this story: Marianne Stigset at mstigset@bloomberg.net

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