Stockholm – Saipem has received a Full Notice to Proceed from Stockholm Exergi, the Swedish capital’s district energy company, for a large-scale carbon capture project. This follows the successful securing of project funding.

The contract, valued at approximately €600 million, includes detailed engineering, procurement, construction, and commissioning of CO2 capture, storage, and shipping systems. Once operational, the facility will capture 800,000 tons of biogenic CO2 per year from the Värtaverket biomass-powered cogeneration plant in Stockholm. This project will effectively remove carbon dioxide from the atmosphere, positioning Saipem at the forefront of large-scale carbon capture solutions.

Saipem’s expertise in CO2 management—spanning engineering, technology, and the full CO2 value chain—reinforces its role in Europe’s decarbonization efforts. Stockholm Exergi, which has received financial support from the European Innovation Fund and Sweden’s Energy Agency reverse auction, will be among the first companies worldwide to implement Bioenergy with Carbon Capture and Storage (BECCS). This system allows for the issuance of negative emissions certificates, which can be traded on the voluntary carbon market.