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Montserrat

Provaris Energy CEO Martin Carolan talked with Proactive about the company’s progress on the front-end engineering design (FEED) program for its proprietary large-scale low-pressure liquid carbon dioxide (LCO₂) tank. Carolan explained that the FEED program, developed in partnership with Yinson Production AS, follows the successful completion of a detailed concept design that confirmed the tank’s technical viability.

The agreement with Yinson, signed late last year, includes funding support to complete engineering and cost surveys through two phases of FEED, with deliverables expected by December 2025. “It’s a commitment of the continuation of this partnership, and allows us to accelerate from concept through to future commercialisation steps next year,” Carolan said.

Carolan also highlighted the tank’s significantly greater volumetric capacity compared to existing Type-C tanks, enabling both shipping and offshore injection solutions. This increased capacity is expected to lower capital and operating costs, supporting the transition from niche to large-scale applications in the CO₂ supply chain.

The CEO noted ongoing discussions with shipowners in Asia about potential carrier designs and the tank’s application in new floating storage opportunities. Provaris is also advancing hydrogen-related developments, supported by a commercialisation agreement with Japan’s Skylon.

Provaris Energy targets 2026 commercialisation of LCO₂ Tank