establishes requirements for the geological storage of CO₂ streams in a way that minimizes risk of CO₂ losses;

is applicable for both onshore and offshore geological storage within permeable and porous geological strata including hydrocarbon reservoirs where a CO₂ stream is not being injected for the purpose of enhancing hydrocarbon production;

includes activities associated with site screening and feasibility investigation, characterization, design and development, operation of storage projects, and preparation for project termination;

recognizes that the geological characteristics, physical boundaries, management, intrinsic technical risk and uncertainties, of each site are likely to be unique for each project and that intrinsic technical risk and uncertainty will be dealt with on a site-specific basis;

provides requirements for integrated project management, including elements of risk management unique to the geological storage of CO₂ streams; and

establishes a methodology for quantifying the net mass of CO₂ that geological storage projects store in storage unit(s).

temporary storage in tanks or by other means;

the post-termination phase;

injection of CO₂ for enhancing production of hydrocarbons or for storage associated with CO₂-EOR;

disposal of other acid gases except as considered part of the CO₂ stream;

disposal of waste and other matter added for purpose of disposal; or

underground storage using any form of buried container.