CapeOmega

What CapeOmega does

CapeOmega is a Norwegian energy infrastructure company headquartered in Bergen that has transitioned from being the largest private gas infrastructure owner on the Norwegian Continental Shelf (NCS) to a focused energy transition infrastructure platform. As of November 2024, the company exited its NCS gas infrastructure portfolio — including participating interests in Gassled (26%), Polarled (28%), Nyhamna (18%), Dunkerque Terminal (17%), and Zeepipe Terminal (13%) — via sale to the Norwegian Ministry of Energy. CapeOmega was acquired by Ocean Yield and KKR from Partners Group in August 2025; Partners Group had owned the company since 2019 and led its transformation into a pure infrastructure player.

The company's current portfolio is anchored by a co-owned fleet of 10 LNG carriers (174,000 cbm M-Class vessels) with Knutsen OAS Shipping, featuring two-stroke gas propulsion (MEGI) engines and air-lubrication systems achieving up to 40% better fuel efficiency than traditional LNG tankers. CapeOmega generates revenue primarily through long-term time charters with energy majors (Shell, KOCH). Beyond shipping, the company is developing carbon capture and storage (CCS) infrastructure including the Luna storage licence (Norway's first CO2 storage permit, awarded October 2022 with Wintershall Dea) and the NoordKaap cross-border CO2 transport proposal submitted to the EU's 6th PCI List with Neptune Energy. CapeOmega also holds a 20% strategic stake in Ocean-Power AS to develop offshore floating power hubs with carbon capture.

The business model is B2B infrastructure services under negotiated long-term contracts, with a recurring revenue base from infrastructure tariffs, vessel charters, and emerging CCS concessions. Customer segments include global energy majors (LNG offtake), European industrial emitters (CCS), and offshore energy operators (electricity supply). Historical 2022 financials reported NOK 9,190M revenue and NOK 5,794M EBITDA, though these figures include the divested NCS portfolio. Management is led by CEO Evy Glørstad, CFO Morten Stokkvik, COO Maritime Nicolay Kuhnle, and CCO Erick Larson.

Name

CapeOmega

Legal name

CapeOmega AS

Website

https://capeomega.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

CapeOmega is a Norwegian energy infrastructure company developing low-carbon maritime, carbon capture and storage (CCS), and offshore power assets. It co-owns a 10-vessel LNG carrier fleet with Knutsen OAS Shipping under long-term charters to energy majors.

Ownership category

akta.pro rank

Product category

Energy Infrastructure

NAICS

Pipeline Transportation of Natural Gas (4862), Natural Gas Distribution (22121)

SIC

Natural Gas Transmission (4922)

akta.pro primary industry

Network Construction, Replacement & Uprates (Capex Programs) (EUAJABAL)

akta.pro secondary industry

Open-Cycle Gas Turbine (OCGT) / Peaker Generation (EUACABAB)

Keywords

• LNG carrier shipping
• Carbon capture storage
• Energy infrastructure investment
• Low-carbon maritime
• Offshore power generation

Headquarters

HQ city

Bergen

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D

Revenue model

1. Gas Infrastructure Operations: Ownership in natural gas pipeline networks (Gassled, Polarled) and terminals (Nyhamna, Dunkerque, Zeepipe) providing long-term infrastructure revenues from gas transport tariffs
2. LNG Carrier Fleet: Co-ownership of LNG vessels operating on long-term time charters with energy majors, generating stable charter revenues
3. CCS/Energy Transition Infrastructure: Developing carbon capture and storage projects, CO2 transport and storage facilities, and new maritime segments including ammonia and hydrogen infrastructure

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

CapeOmega is an energy infrastructure company that owns and co-invests in LNG carrier vessels and develops carbon capture and storage (CCS) projects and offshore electricity infrastructure to support the energy transition. The company previously operated as the largest private gas infrastructure owner on the Norwegian Continental Shelf before exiting NCS assets in November 2024. CapeOmega now operates a fleet of 10 LNG carriers and develops CCS and offshore power projects.

Product overview

CapeOmega operates as an energy infrastructure company focused on low carbon maritime infrastructure and energy transition. The core portfolio includes: (1) A fleet of 10 LNG carriers (174,000 cbm) partnered with Knutsen OAS Shipping, featuring fuel-efficient two-stroke gas propulsion engines; (2) Carbon Capture & Storage (CCS) solutions including the Luna storage licence and the cross-border NoordKaap project; (3) Strategic investment in offshore electricity through Ocean-Power AS. Following the November 2024 exit from Norwegian Continental Shelf gas infrastructure, the company has pivoted toward these energy transition assets.

Differentiator

Problem solved

Functional benefit

Products and services

• LNG Carrier Fleet Fleet of 10 LNG vessels (174,000 cbm capacity) for low-carbon maritime transportation. Partnered with Knutsen OAS Shipping. Vessels feature two-stroke gas propulsion engines and air-lubrication systems for fuel efficiency, achieving up to 40% better fuel efficiency than traditional LNG tankers.
• Carbon Capture & Storage (CCS) Solutions CCS projects including terminal, transport, and storage facilities development across Europe. Includes participation in the Luna carbon storage licence and the NoordKaap cross-border CO2 transport project for industrial emitters.
• Offshore Electricity (Blue Power) Climate-friendly offshore electricity infrastructure through 20% ownership stake in Ocean-Power AS. Involves floating power hubs with high-efficiency gas turbines and carbon capture technology to provide Blue Power to offshore operations.

Quantifiable outcome

• 40% more fuel efficient LNG vessels compared to traditional tankers

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Norwegian Ministry of EnergycoreStrategic or Co-development Partner · 1 November 2024Sale and acquisition of CapeOmega's natural gas pipeline and terminal infrastructure portfolio including Gassled (26%), Polarled (28%), Nyhamna (18%), Dunkerque Terminal (17%), and Zeepipe Terminal (13%). Represents exit of all NCS offshore license-related activities.
• TotalEnergies EP Norge ASminorStrategic or Co-development Partner · 22 August 2023Sale of 40% ownership in NCS EXL 004 Luna Carbon Storage licence to TotalEnergies. Completion subject to standard approvals. Partnership to support development of CO2 storage capacity.
• Ocean-Power AScoreStrategic or Co-development Partner · 10 August 2023Strategic partnership for offshore electricity provision. CapeOmega acquired 20% stake in Ocean-Power and dedicates personnel and resources to develop offshore power hub projects. Ocean-Power aims to build, own and operate floating power hubs with high-efficiency gas turbines and carbon capture technology.
• Neptune EnergycoreStrategic or Co-development Partner · 22 February 2023Joint proposal for NoordKaap project - cross-border CO2 transport and storage solution for industrial emitters across Europe. Project of Mutual Interest submitted to EU 6th PCI List. RWE signed Letter of Intent to ship green CO2 from Eemshaven facility.
• RWEminorStrategic or Co-development Partner · 22 February 2023Signed Letter of Intent with CapeOmega and Neptune Energy to assess possibility of shipping green CO2 from RWE's biomass Eemshaven facility for offshore storage in Dutch North Sea, targeting negative emissions by 2030.
• GasscominorOthers · 22 February 2023Operator of the Gassled gas transport system, which includes 8,000 km of pipelines, offshore platforms, and receiving terminals in four European countries.
• Wintershall Dea Norge AScoreStrategic or Co-development Partner · 5 October 2022Awarded CO2 storage exploration permit for acreage in Norwegian part of North Sea. Joint licence holders with CapeOmega for Luna storage facility. Operator of the Luna storage licence.
• Knutsen OAS ShippingcoreStrategic or Co-development Partner · 1 January 2019Partnership to construct and charter 10 LNG vessels on the back of long-term charters to gas majors. The vessels are M-Class 174,000 cbm LNG carriers with twin propulsion, MEGI engines, and air-lubrication systems.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Flex LNG: Pure-play LNG carrier operator with a modern fleet of large newbuilds on multi-year charters to investment-grade energy companies. Closely comparable to CapeOmega's LNG carrier business given similar vessel sizes, charter strategy, and exposure to global LNG shipping market dynamics.
• Cool Company (Golar LNG spin-off): Spin-off from Golar LNG operating a fleet of modern LNG carriers on long-term time charters. Same business model as CapeOmega's LNG fleet with Knutsen OAS Shipping and similar exposure to LNG shipping market dynamics and decarbonization-driven premium charter rates.
• Höegh LNG (now Höegh Evi): LNG infrastructure company focused on FSRU (floating storage regasification) and LNG shipping. Comparable to CapeOmega's LNG infrastructure focus and serves overlapping end-markets in Europe and emerging markets.
• Northern Lights JV: Joint venture between Equinor, Shell, and TotalEnergies developing open-source CO2 transport and storage infrastructure in Norway. Most directly comparable to CapeOmega's CCS ambitions (Luna, NoordKaap) and represents both a competitor and a potential partner/anchor shipper for CapeOmega's CCS projects.

Emerging players

• Aker Carbon Capture: Pure-play carbon capture technology provider offering carbon capture units to industrial emitters. While CapeOmega focuses on CO2 transport/storage infrastructure and Aker on capture technology, both target the same European CCS end-market and complementary value chain segments.
• Awilco LNG: Smaller-scale LNG shipping company operating a fleet of LNG carriers. Less scaled than CapeOmega's Knutsen partnership but directly comparable business model in LNG transportation and exposed to the same long-term charter dynamics.
• New Fortress Energy: Integrated LNG infrastructure company focused on smaller-scale LNG distribution and regasification terminals in Western hemisphere markets. Different geography and scale but comparable business model of providing LNG infrastructure solutions as a transition fuel.

Broad incumbents

• Equinor: Norwegian energy major with significant NCS pipeline operations, LNG production, and CCS ambitions (including Northern Lights JV partner). Provides context for CapeOmega's former NCS business and the broader CCS competitive landscape in Norway.
• Wärtsilä: Marine technology provider offering LNG carrier engines and CCS technology solutions. Comparable through overlapping customer base with CapeOmega (LNG shipping operators, industrial emitters pursuing CCS) and direct technology supplier to the LNG shipping market CapeOmega serves.
• Shell: Global energy major that is both an LNG charter customer of CapeOmega and a competitor through Northern Lights CCS JV and broader LNG/CCS portfolios. Strategic counterparty across CapeOmega's commercial portfolio and a key driver of demand for both LNG shipping and CCS infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/capeomega

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CapeOmega