The Norwegian government and the oil company Statoil have reached an agreement to establish the world's largest facility to capture and store co₂ emissions. During its recent budget announcement, the government has agreed to pick up an 80 per cent stake of the project in Mongstand, which is in conjunction with the Statoil's gas-fired power plant to feed its nearby refinery.

"With this project we are writing industrial and environmental history,' said prime minister Jens Stoltenberg in a press release. "We are going to build the world's largest carbon capture facility