This is possible, although the problem is the cost of capturing the CO2. It might be better to synthesize a liquid fuel; methanol is probably the easiest. Capturing the CO2 of combustion is probably easier than capturing atmospheric CO2, so that should be included. Overall, the RTE will be lower than hydrogen, but maybe it's cheaper if the geology doesn't favor hydrogen storage.

Another possible alternative would be artificial geothermal, with very high temperature rock at fairly shallow depth. Obviously that's not transportable.