Marine Based CO₂ Transport & Storage Solution

Lead Proponent

Aker Solutions Inc.

Project Objectives

The objective of this project is to assess the technical, economic, and regulatory feasibility of a marine-based CO₂ transport and offshore storage solution for Eastern Canada, including concept design and techno-commercial evaluation.

Expected Results

This project aims to:

1. Advance Canada’s climate goals by enabling large-scale CO₂ transport and permanent offshore storage, reducing industrial emissions.
2. Foster innovation in marine carbon management and create skilled jobs in engineering, marine operations, and research.
3. Promote economic diversification in Newfoundland and Labrador (NL) and strengthen Canada’s leadership in carbon capture, use and storage (CCUS) technology.
4. Provide industry, government, and research partners with actionable insights into marine CO₂ transport and storage systems.
5. Provide stakeholders with access to technical designs, economic models, and regulatory frameworks to de-risk future CCUS investments.
6. Foster collaboration among academia, Indigenous communities, and local businesses to support workforce readiness, regional economic growth, and position NL as a hub for carbon management innovation.