CO2 tax on LNG used in shipping, introduced in Norway from 1 January 2018, makes LNG more expensive. There is no longer an operational economic benefit to use LNG instead of marine diesel on ships.
The EFTA Surveillance Authority (ESA) has approved a prolongation of the NOx tax exemption scheme in Norway.
Emissions related to oil and gas extraction shall be reported under high payment rates. From 1.1. 2018, all emissions from removable offshore rigs shall be reported at a high rate, including transfer and relocation between operation and exploration drilling (emissions previously reported at low rates).
The energy optimisation projects initiated by Statoil and Songa Offshore is a noteworthy achievement, making more efficient and environmentally friendly drilling operations through technical enhancements of its operating drilling units.
The NOx Fund launches a support program for rigs. The main purpose with the program is to provide support conditions that make it easier for the rigs to receive funding from the NOx Fund.
An important new condition for support under the NOx Agreement 2018-2025 is that the NOx Fund does not support measures already implemented or decided implemented.
Measures implemented after 01.01.2018 can receive an investment support rate of either NOK 250 or 500 per kg NOx reduced.