The　pressurized　CO2　pipeline　is　a　necessary　component　of　Carbon　Capture　and　Storage　(CCS)　infrastructures.　However,　the　potential　risk　caused　by　CO2　pipeline　is　still　not　very　clear.　Especially　the　scientific　community　is　focusing　on　the　understanding　of　multi-phase　(gas-liquid-solid)　flow　of　CO2　jet　in　the　near-field　of　dispersion.　In　this　paper,　a　compressible　multi-phase　Computational　Fluid　Dynamics　(CFD)　model　considering　real　gas　behavior　is　developed　to　predict　the　strength　of　source　terms　of　CO2　release.　The　model　is　based　on　a　Homogeneous　Relaxation　Model　(HRM)　and　accounts　for　non-equilibrium　phase　transition.　A　CO2　release　experiment　was　carried　out　to　obtain　near-field　data,　and　it　was　used　to　validate　the　CFD　model.　The　results　show　that　the　predictions　are　in　good　agreement　with　the　experimental　data　in　terms　of　velocity　and　jet　structure.　The　relaxation　time　has　a　significant　impact　on　the　jet　temperature　and　the　condensed　phase　fraction.