Abstract: Geological storage of carbon dioxide (CO₂) is a critical technology of CCUS (carbon capture, utilization, and storage). Offshore CO₂ geological storage involves transporting CO₂ captured from industrial sources via pipelines or ships to the storage site and injecting it in its supercritical state into geological formations such as saline aquifer and depleted oil and gas reservoirs beneath the seabed, thereby achieving permanent isolation from the atmosphere. Offshore CO₂ geological storage is characterized by “large storage potential, high safety, and low environmental risks,” and has received widespread attention from countries and regions such as Europe and the United States. Among them, Norway is the first country to initiate commercial applications, such as the Sleipner Project. In March 2021, the Norwegian government approved the Northern Lights project, the world’s first approved project for cross-border transportation of CO₂ and its subsequent geological storage beneath seabed. This paper systematically reviews the overview and the latest research progress of the Northern Lights project, summarizes the valuable experience accumulated during its implementation, aiming to provide insights and references for the development of offshore CO₂ geological storage in China and contribute to the realization of China’s “carbon peak and carbon neutrality” goals.