Report providing a detailed industry assessment of the risks and regulatory framework for offshore CO₂ storage. Drawing on operational experience from Sleipner and other projects, it argues that geological storage is a safe, mature technology with extremely high retention rates; over 99.99% of injected CO₂ expected to remain permanently sequestered. The report emphasises that the EU CO₂ Storage Directive (2009/31/EC) delivers a robust safety regime, but highlights how its financial security and liability provisions, particularly the requirement to cover extremely low-probability, high-impact leakage scenarios, can impose disproportionate costs that hinder project development. It calls for a more risk-proportionate approach to monitoring, measuring and verification (MMV) and financial guarantees, ideally through sectoral or national risk-sharing mechanisms, to accelerate large-scale deployment while maintaining rigorous environmental safeguards.