Provaris Completes Phase 1 FEED for Large-Scale LCO₂ Tank On Budget
Provaris Energy has successfully completed the first phase of engineering design for a pioneering large-scale liquefied CO₂ tank, advancing carbon capture storage solutions with Yinson Production.
- Phase 1 FEED for 25,000 cbm low-pressure LCO₂ tank completed on time and within budget
- Tank designed for integration with Yinson’s Floating Storage Injection Unit (FSIU) for North Sea CCS project
- Phase 2 FEED underway, targeting Class Approval and detailed fabrication validation by June 2026
- Innovative tank design aims to reduce capital and operating costs for large-scale CO₂ transport
- Supports commercialisation of CO₂ supply chains and energy transition efforts
Provaris Hits Key Milestone in Carbon Capture Storage Innovation
Provaris Energy Ltd (ASX, PV1) has marked a significant step forward in the development of large-scale liquefied carbon dioxide (LCO₂) storage technology. The company announced the successful completion of Phase 1 of its Front End Engineering and Design (FEED) program for a proprietary 25,000 cubic metre low-pressure LCO₂ tank. Delivered on schedule and within budget in January 2026, this milestone underscores Provaris’ commitment to advancing scalable and cost-effective solutions for carbon capture and storage (CCS).
Strategic Partnership with Yinson Production
The tank design is intended for integration with Yinson Production’s Floating Storage Injection Unit (FSIU), a vessel concept with a 100,000 cubic metre storage capacity earmarked for the Havstjerne CCS project in the North Sea. This collaboration is pivotal, as it aligns Provaris’ innovative tank technology with Yinson’s marine engineering expertise, aiming to streamline CO₂ storage and transport logistics in offshore environments.
Phase 2 FEED, Engineering, Testing, and Certification
Building on the initial success, Phase 2 of the FEED program is underway and scheduled for completion by June 2026. This next stage will deepen detailed engineering work, including finite element modelling and rigorous structural testing. Provaris will also validate fabrication processes at its automated facility in Norway, employing advanced robotic and laser welding techniques. A critical objective is securing Class Approval from DNV, a leading maritime certification body, to ensure the tank meets stringent safety and operational standards.
Driving Cost Efficiency and Market Readiness
The new tank design boasts a capacity three to four times larger than existing Type C tanks, which is expected to reduce the number of tanks required on vessels. This scale advantage translates into lower capital expenditure for shipbuilding, improved hull utilisation, and simplified operations and maintenance. Ultimately, these efficiencies aim to lower the cost per tonne of CO₂ transported, enhancing the commercial viability of CCS supply chains.
Positioning for the Energy Transition
Provaris’ Chief Technical Officer, Per Roed, highlighted the milestone as a testament to the company’s technical expertise and partnership strength. The development of large-scale LCO₂ tanks is critical to unlocking broader adoption of CCS technologies, which are essential for meeting global climate targets. As Yinson progresses towards a final investment decision for its FSIU later in 2026, Provaris is well positioned to deliver value to customers seeking scalable and efficient CO₂ storage solutions.
Bottom Line?
Provaris’ on-time FEED delivery sets the stage for accelerated CCS infrastructure, but upcoming certification and fabrication hurdles remain key to watch.
Questions in the middle?
- Will Provaris secure DNV Class Approval within the planned timeline?
- How will the final fabrication costs impact commercial deployment of the LCO₂ tanks?
- What are the prospects for additional partnerships beyond Yinson Production?
