The CEO of one of the oilsands companies behind the Pathways Alliance says the group expects to provide a significant update on its proposed $16.5-billion carbon capture and storage project within the next couple of months.MEG Energy chief executive Derek Evans says the Pathways Alliance group expects to soon provide a significant update on its proposed $16.5-billion carbon capture and storage project.
The companies have proposed jointly investing in the construction of what would be one of the largest carbon capture projects in the world. The project would take the form of a massive pipeline built to transport carbon from 20 separate carbon capture facilities at oilsands sites in northern Alberta to an underground hub near Cold Lake for safe storage.
Pathways is still waiting for the federal government to finish hammering out the details of its pledged investment tax credit for carbon capture and storage. "I can assure you there is a massive amount of work that is going on in terms of Indigenous consultation, pipeline sizing, looking for appropriate mills.… So lots and lots of work going on, as well as the important work with both the federal and the provincial government trying to arrive at the appropriate fiscal terms that will make this project economic."
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