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The North Sea could become a 'central storage camp' for carbon waste. Not everyone likes the idea

Norway's government wants to show the world it is possible to safely inject and store carbon waste under the seabed, saying the North Sea could soon become a "central storage camp" for polluting industries across Europe.

Offshore carbon capture and storage (CCS) refers to a range of technologies that seek to capture carbon from high-emitting activities, transport it to a storage site and lock it away indefinitely under the seabed.

The oil and gas industry has long touted CCS as an effective tool in the fight against climate change and polluting industries are increasingly looking to offshore carbon storage as a way to reduce planet-warming greenhouse gas emissions.

Critics, however, have warned about the long-term risks associated with permanently storing carbon beneath the seabed, while campaigners argue the technology represents "a new threat to the world's oceans and a dangerous distraction from real progress on climate change."

Norway's Energy Minister Terje Aasland was bullish on the prospects of his country's so-called Longship project, which he says will create a full, large-scale CCS value chain.

"I think it will prove to the world that this technology is important and available," Aasland said via videoconference, referring to Longship's CCS facility in the small coastal town of Brevik.

"I think the North Sea, where we can store CO2 permanently and safely, may be a central storage camp for several industries and countries and Europe," he added.

Norway has a long history of carbon management. For nearly 30 years, it has captured and reinjected carbon from gas production into seabed formations on the Norwegian continental shelf.

It's Sleipner and Snøhvit carbon management projects have been in operation since 1996 and

Read more on cnbc.com