Galp said it will not proceed with its Portuguese Aurora project after being unable to find new international partners.

The Portuguese oil-and-gas producer said late Tuesday that it has been looking for new partners to invest in the project since Sweden's Northvolt pulled out in early 2024.

The Aurora project was a 50/50 joint venture established in 2021 to create a lithium conversion plant in Setubal in order to supply the battery industry.

Northvolt had been struggling with a challenging market for electric vehicles and filed for chapter 11 bankruptcy late last week.

Galp said that despite significant preparation, the current context and the inability to count on an international partner made it impossible to continue with the project.

Write to Adam Whittaker at [email protected]