This study provides insight into the feasibility of a CO₂ trunkline from the Netherlands to the Utsira formation in the Norwegian part of the North Sea, which is a large geological storage reservoir for CO₂. The feasibility is investigated in competition with CO₂ storage in onshore and near-offshore sinks in the Netherlands. Least-cost modelling with a MARKAL model in combination with ArcGIS was used to assess the cost-effectiveness of the trunkline as part of a Dutch greenhouse gas emission reduction strategy for the Dutch electricity sector and CO₂ intensive industry. The results show that under the condition that a CO₂ permit price increases from €25 per tCO₂ in 2010 to €60 per tCO₂ in 2030, and remains at this level up to 2050, CO₂ emissions in the Netherlands could reduce with 67% in 2050 compared to 1990, and investment in the Utsira trunkline may be cost-effective from 2020-2030 provided that Belgian and German CO₂ is transported and stored via the Netherlands as well. In this case, by 2050 more than 2.1 GtCO₂ would have been transported from the Netherlands to the Utsira formation. However, if the Utsira trunkline is not used for transportation of CO₂ from Belgium and Germany, it may become cost-effective 10 years later, and less than 1.3 GtCO₂ from the Netherlands would have been stored in the Utsira formation by 2050. On the short term, CO₂ storage in Dutch fields appears more cost-effective than in the Utsira formation, but as yet there are major uncertainties related to the timing and effective exploitation of the Dutch offshore storage opportunities.