Offshore North 1

The Offshore North 1 CCS Project (also called Gulf Gate Carbon Hub), led by Repsol via the Aves CCS Joint Venture (with Carbonvert and Mitsui), is a proposed CO₂ storage hub located offshore of the Coastal Bend region near Corpus Christi, Texas. In 2023, the partnership secured leases for over 140,000 acres of subsurface pore space (owned by the Texas Permanent School Fund), awarded by the Texas General Land Office. The area hosts proximity to more than 35 million metric tons per year (MMT/yr) of existing industrial emissions and anticipates an additional 20 MMT/yr from greenfield projects by 2035, making it a strategic geographic hub for regional decarbonization efforts. The commercial-scale hub is designed with an estimated storage capacity exceeding 600 million metric tons of CO₂, equivalent to handling roughly 20 MMT/yr for 30 years. The Aves JV equity is split among Repsol (45%, operator), Carbonvert (45%), and Mitsui (10%).