Japanese shipping group NYK has agreed to buy a 30% stake in Vår Energi's Trudvang offshore CO2 storage project in the North Sea. The deal, effective from Jan. 1, 2026 and pending approval from the Norwegian Ministry of Energy, gives NYK its first direct equity position in geological carbon storage. Trudvang targets 2 million tonnes of CO2 per year initially, with potential to scale beyond 10 million tonnes. NYK brings LCO2 shipping experience through its Knutsen NYK Carbon Carriers joint venture. That matters because Trudvang is designed to receive CO2 from industrial emitters across North-West Europe. After the transfer, Vår Energi CCS remains operator with 40%, while INPEX Idemitsu Norge and NYK each hold 30%.
