The CO2 displacement of coal seam gas can simultaneously promote gas extraction and CO2 sequestration, with gas injection pressure being a key factor influencing both efficiency and safety. This study examined the impact of varying CO2 injection pressure on gas extraction and sequestration. The findings indicated that higher CO2 injection pressures reduced the gas injection and extraction time costs, increased the equilibrium pressure and coal seam temperature, and decreased carbon sequestration efficiency. As the CO2 injection pressure increased, the CH4 cumulative desorption capacity and desorption rate rose by 4.98%, the time to reach the residual gas content critical value (TLV of 2 m3/t) shortened by 62.04 min, and the maximum CO2 storage per unit mass of coal increases by 3.6 m3/t. Increasing the injection pressure enhanced gas desorption and CO2 sequestration. A higher CO2 injection pressure resulted in a higher CH4 yield rate and a reduced CO2 injection rate in the later stages. Therefore, it is advisable to reduce the CO2 injection pressure during the low efficiency desorption stage.