Capital flows into Norway’s CO₂ storage market as Yinson advances CCS project
Capital flows into Norway’s CO₂ storage market as Yinson advances CCS project
Norway continues to consolidate its position as a leading European hub for CO₂ storage. Recent months have seen new storage and transport agreements, major engineering and fabrication awards, and continued investment in expanding CO₂ infrastructure, reinforcing commercial momentum across the Norwegian CCS sector.
Havstjerne CCS: a full supply chain solution
Yinson, through Stella Maris CCS (40%), and its partner Harbour Energy (operator, 60%) continue to advance a full supply chain solution for Europe’s CO₂ emissions at the Havstjerne CCS project, located around 135 km offshore on the Norwegian Continental Shelf. An outline of the CCS project and Yinson’s low-carbon infrastructure solutions for CO₂ is available here.
Recent publication of progress include:
•Cross-border supply from Amsterdam (November 2026): Havstjerne and EcoLog have signed a collaboration agreement linking EcoLog’s dual-purpose terminal in Amsterdam for CO₂ storage to Havstjerne’s offshore permanent storage and injection. The collaboration provides industrial emitters with an integrated solution for CO₂ transport and permanent storage. Read more•SLB appointed for FEED (August 2026): SLB, with its OneSubsea joint venture, has been selected as strategic reservoir partner for the concept and front-end engineering and design phases, covering reservoir maturation, wells and the subsea injection system, as the partners work toward a final investment decision (FID). Read more•European funding and technical maturity in 2025: The project received €225 million from the EU Innovation Fund in 2025, and a 2025 appraisal well confirmed reservoir quality suitable for CO₂ injection and storage for a 10 Mtpa scale project. A low-pressure floating storage and injection concept has been selected, focused on reliability, low cost and commercial flexibility. “K” LINE is also onboard under a MOU for technical development of the maritime solutions for transport, storage and injection.
In other sector news...
Investment moves into delivery of Stage 2 for Northern Lights: The expansion of Northern Lights is moving into execution, with new subsea fabrication contracts supporting Phase 2 and its planned increase in capacity to more than 5 million tonnes per year by 2028. This is being accompanied by new commercial demand, including a recently announced agreement with Sweden’s Öresundskraft for up to 200,000 tonnes of CO₂ per year
Capital is moving into the Norway CCS market: Corporate activity elsewhere on the Norwegian Continental Shelf points to the same trend. On 29 September 2026, Japan’s NYK agreed to acquire a 30% interest in Trudvang CCS ANS and a corresponding 30% interest in CO₂ storage exploration licence EXL007 from Vår Energi CCS, subject to regulatory approvals.
This transaction takes one of the world’s largest shipping groups beyond liquefied CO₂ transport into offshore handling, injection and permanent storage. Read more.
And in EU funding news: Norway CCS project 'Atlas' a JV between ORLEN and Aker BP was awarded €223 million from the EU Innovation Fund in 2025 to support direct injection from dedicated CO₂ carriers.
What this means for Provaris
Together, these developments show the CCS value chain – emitters, shipping, terminals and offshore storage – being assembled around Norwegian storage. As storage projects move toward FID, demand for large-scale efficient liquefied CO₂ shipping and handling solutions is expected to grow..
DNV Approvals update
DNV continues to work with Provaris to finalise the Approval in Principle (AiP) process for the YP-Provaris LCO₂ tank design. Additional engineering and documentation has been completed in response to DNV’s review, and is now finalising its assessment and resolution to technical comments.
In outlined in the recent quarterly, DNV, Yinson and Provaris are progressing the planning, documentation and testing requirements for the subsequent General Approval for Ship Application (GASA), which defines the pathway for final class approval for ship application. GASA is the final step in approvals and development, together with a yard qualification and selection for tank fabrication.
We will continue to keep shareholders updated as these milestones progress.