June 18, 2025 [Tank Storage]- Provaris Energy has achieved a significant milestone in the collaboration with Yinson Production under the Joint Development Agreement (JDA) for the development of an innovative large-scale liquid CO2 (LCO2) tank design.

The Phase 2 design stage has been completed successfully on time and budget, culminating in the submission of a comprehensive design to Yinson and a Marine Classification Society for preliminary Class approval. A successful outcome is expected in the near-term and planning is now underway for the front-end engineering design (FEED) stage.

Provaris managing director and CEO, Martin Carolan says: ‘The partnership between Provaris and Yinson continues to rapidly advance the development of a game-changing solution for CO2 storage and transport. The successful completion of the Phase 2 design stage, coupled with the planned establishment of a joint venture company between Provaris and Yinson, provides the focus and strategic alignment in our collaborative efforts to deliver industry-leading innovations in CO2 storage and transport.’

The focus of the Design Stage for the LCO2 tank includes:

• Storage capacity for low-pressure LCO2 that is more than double the size Asian shipbuilders and tank fabricators are currently offering to the market for bulk-scale LCO2 maritime storage and transport.
• A tank that supports simplification of the process engineering and associated equipment to reduce the costs (capital and operating) and increase the scale of LCO2 carriers and other floating storage assets.
• A design that meets the stringent International Code for the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk (IGC Code). Similarly, materials have been selected according to the IGC Code.
• The integration of larger tanks at low pressure tank design to lower vessel capex (by removing the process equipment required for a large number of small capacity tanks) and target lower freight cost.

Yinson Production CTO Lars Gunnar Vogt adds: ‘The completion of this Design stage marks a significant milestone, demonstrating the technical viability of large-scale LCO2 tanks tailored for marine and offshore applications. We’re excited by the potential this unlocks, not only for our Havstjerne CCS development project in Norway, but also for the broader decarbonisation value chain and long-term opportunities we see for Yinson.’

Planning is now underway for the FEED stage. This stage will involve incorporating the LCO2 tank design into a Floating Storage Injection Unit (FSIU) under development by Yinson for CO2 injection. All necessary Class approvals of the FSIU are also planned as part of the FEED stage.

The FEED design phase will be critical in advancing the design towards commercial and operational readiness. The focus on tank developments will be on continued compliance with maritime codes and regulations, as well as optimisation of the tank design including steel weight, hull integration, and fabrication. Fabrication of the innovative tank design will include the use of material handling robots and tools, as well as laser welding processes.

By capitalizing on the expertise and intellectual property (IP) created under the JDA, the ongoing joint venture aims to position itself as a leading innovator in CO2 storage and maritime transportation solutions.