Canada pushes CCUS project to build Alberta into target carbon storage center

With the accelerated deployment of carbon capture, utilization and storage (CCUS) projects in many countries, the global CCUS industry has entered a period of rapid growth

Government vigorously promote

According to the "2021 CCUS Market Outlook" released by Bloomberg New Energy Finance, the global CCUS industry has bid farewell to the demonstration project stage of the past 20 years and has become one of the key technologies indispensable for countries to achieve carbon neutrality goals

In order to encourage private investment in CCUS projects, Canada is relying on its carbon emission prices, investment tax credits, and the Clean Fuel Regulations (CFR) that require lower fuel emission intensity to accelerate the development of CCUS

However, the current Canadian CCUS capabilities are still far from the needs

Oil and gas companies interested

Although the natural resources department is concerned about the development of CCUS, in fact, oil and gas companies are very interested in CCUS projects in Canada

It is reported that the Canadian province of Alberta will formally promote the CCUS project next year, and David Knight Legg, a consultant to the board of directors of Invest Alberta, the province’s economic development agency, said that Alberta has received informal letters of interest from at least 10 groups, including A consortium composed of Royal Dutch Shell, TC Energy and Canada's five largest oil producers

Currently, many global oil and gas producers see CCUS as a way to extend their fossil fuel production time by locking in carbon emissions

　　Economics remains to be seen

　　Niraj Nandurdikar, head of global power and renewable energy consulting at Wood Mackenzie, said that Alberta has suitable geological conditions, a large number of high-emission sources, and government supervision is in place

　　However, some small oil producers said that the economics of Alberta's CCUS remains to be seen

　　In addition, Michael Belenki, head of Advantage Energy, a provider of modular carbon capture technology, said that Alberta needs to prevent speculators from gaining access to underground space