Canada, Alberta Invest in Carbon Capture, Storage Project
November 5, 2009 // Published as a news service by IHS
A total of $865 million will be invested in the Shell Quest project, a joint venture among Shell Canada (60%), Chevron Canada Ltd. (20%) and Marathon Oil Sands L.P. (20%).
This project will integrate CCS technology at Shell Canada's Scotford oil sands upgrader near Edmonton.
The application of CCS technology could capture up to 1.1 megatonnes of greenhouse gas (GHG) emissions annually, a reduction of about 40%, according to Natural Resources Canada (NRCan).
According to a Canada-Alberta ecoENERGY CCS Task Force report, CCS technology could allow Canada to cut its GHG emissions by as much as 600 million tonnes a year by 2050, which is an amount equal to almost three-quarters of Canada's current annual emissions.
Canada's investment comes from the Clean Energy Fund, a $1-billion program over five years, as part of Canada's Economic Action Plan.
Source: Natural Resources Canada (NRCan).