Provaris Energy Ltd (ASX:PV1, OTC:GBBLF, FRA:WS90) has completed and delivered Phase 1 milestones for its large-scale liquid CO₂ (LCO₂) tank front-end engineering and design (FEED) program with partner Yinson Production, finishing on time and within budget in January 2026.
The work is part of a joint development agreement (JDA)-funded FEED program targeting completion in June 2026 and covering detailed engineering, material and weld testing, integration with Yinson’s Floating Storage Injection Unit (FSIU) concept and an ongoing classification approval process with DNV.
Under the Phase 2 scope, Provaris said Yinson has asked it to continue through to June 2026 to finalise FEED deliverables, including class approval milestones and a fully costed fabrication facility plan and tank production cost estimate.
The FEED centres on a proprietary 25,000 cbm low-pressure LCO₂ tank design intended for integration into Yinson’s proposed FSIU design, which targets 100,000 cbm storage capacity and is being developed for potential deployment at the Havstjerne CCS project in the North Sea. Provaris said the tank design is also being developed for application in LCO₂ carriers and LCO₂ storage/terminal infrastructure.
Provaris is positioning the large-scale tank concept as a higher-capacity alternative to existing Type C tank configurations, aiming to reduce the number of tanks required for FSIU and large-scale carrier designs, with the stated intent of lowering capital and operating costs per tonne of LCO₂ transported.
Phase 2 FEED scope (to June 2026)
Provaris said Phase 2 will build on a multi-layer “sandwich” tank concept designed to comply with International Code for the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk (IGC Code) requirements, and will include:
- detailed structural design and finite element modelling (FEM) for the tank and accessories
- validation testing to confirm structural performance
- fabrication of test elements and validation of production processes at Provaris’ automated facility in Norway
- development of digitised and automated fabrication using robotic laser and laser-hybrid welding processes
- integration work for the tank within Yinson’s FSIU design
- continuation of the DNV class approval pathway toward a General Approval for Ship Application (GASA) certificate
"We are proud to have achieved this milestone in the development and delivery of our pioneering 25,000 cbm LCO₂ tank FEED program, on schedule and within budget," Provaris’ chief technical officer, Per Roed, said. "This accomplishment reflects the dedication, innovation and technical expertise of our team and part nership w ith Yinson and marks a major step forward in advancing large- scale CO₂ storage solutions for the market. These advancements position us to deliver real value to Yinson and other prospective partners and customers seeking efficient, cost-effective solutions for CO2 supply chains at scale ."
Yinson continues development of the FSIU concept, with a timeline for a final investment decision (FID) targeted for late 2026.