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Highlights
- Fully funded FEED program for advanced large-scale LCO₂ storage tank
- Partnership to support offshore carbon capture solutions
- Design targets cost efficiency and expanded cargo capacity
Provaris Energy Ltd (ASX:PV1) has commenced a fully funded front-end engineering design (FEED) program for its proprietary large-scale low-pressure liquid carbon dioxide (LCO₂) tank. The initiative, supported by development partner Yinson Production AS, is a major stride towards market readiness for technologies that could play a significant role in carbon capture and storage (CCS) supply chains.
While not currently part of the ASX 200 companies, Provaris is positioning itself to leverage the anticipated growth in demand for large-scale low-pressure LCO₂ shipping solutions. The FEED program will refine the design, ensure compliance with maritime standards, and integrate structural and hull elements for enhanced performance.
Joint Venture Pathway for Commercial Deployment
The work involves four key engineering and integration packages aimed at optimising steel usage and applying robotic fabrication techniques. Test sections will be produced at Provaris’ facility in Norway for evaluation. Upon completion, Provaris and Yinson intend to form a joint venture in 2026 to hold equal ownership and licensing rights to the tank’s design and fabrication intellectual property. This would enable commercial rollout for both marine and onshore applications.
Addressing Scale and Cost Constraints
Traditional LCO₂ transport relies on Type C tanks, which are limited in capacity and efficiency. Provaris’ design uses layered construction with thinner plates of standard carbon steel, removing the need for costly high-yield materials. This approach allows for larger storage volumes, improved hull utilisation, and reduced freight costs. The combination of robotic automation and laser welding enhances precision and lowers production expenses.
Beyond its role in Yinson’s Floating Storage Injection Unit (FSIU) project, the tank design has potential applications in other CCS projects emerging in Asia and Europe. Market engagement has also indicated opportunities for deployment in various large-scale shipping contexts, reinforcing its scalability.
Frequently Asked Questions
- What is the purpose of Provaris’ large-scale LCO₂ tank?
It is designed to transport liquid carbon dioxide efficiently over long distances, supporting CCS initiatives aimed at reducing industrial emissions. - How does the design differ from traditional LCO₂ tanks?
It uses layered plate construction with robotic fabrication, enabling larger capacity without expensive materials, thereby improving cost-effectiveness and operational efficiency. - When is the FEED program expected to be completed?
The FEED phase is scheduled to conclude by mid-2026, paving the way for joint venture operations and commercial deployment.
