Pathways Alliance advances web zero emissions plan

Pathways Alliance advances web zero emissions plan

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Important progress achieved on early-stage work for oil sands carbon seize and storage community

CALGARY, Alberta, Oct. 14, 2022 (GLOBE NEWSWIRE) — The Pathways Alliance, representing Canada’s six largest oil sands corporations, is advancing early work crucial to construct one of many world’s largest carbon seize and storage (CCS) services within the oil sands area of northern Alberta.

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The CCS undertaking is the first focus of section considered one of Pathways Alliance’s formidable plan to scale back annual emissions from oil sands operations by 22 million tonnes by 2030 and obtain a purpose of net-zero emissions by 2050.

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“A CCS undertaking of this dimension is a large endeavor that requires vital up-front work and a powerful partnership between trade and authorities to proceed,” mentioned Kendall Dilling, president of Pathways Alliance.

“We proceed to work with the federal and Alberta governments to make sure Canada’s co-funding applications and regulatory setting for CCS are globally aggressive and that emissions discount targets for our trade are sensible and achievable.

“On the similar time, we’re within the early levels of engagement with communities on how greatest we will transfer ahead collectively on our plan.

“In parallel, we’re progressing work to ensure we’re able to make an funding determination and begin constructing as quickly as the mandatory monetary and regulatory situations are in place.”

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The primary stage of the Pathways Alliance plan contains roughly $16.5 billion of funding by 2030 on the Alliance’s foundational CCS undertaking and $7.6 billion on different emissions reductions tasks, for a complete of round $24.1 billion.

This follows billions of {dollars} already invested by member corporations to scale back total emissions per barrel by 22% within the final decade alone.

Pre-work on the Pathways Alliance foundational CCS undertaking so far:

  • Early engagement with greater than 20 Indigenous communities alongside the proposed CO2 transportation and storage community hall and a dedication to significant engagement all through the total cycle of the community’s operations.
  • Chosen by the Authorities of Alberta to proceed exploratory work on the Alliance’s formidable CCS hub to soundly and completely retailer CO2 captured from 20+ oil sands services and different industries in northern Alberta. 
    • Extra detailed work to guage the storage zone will quickly start.
    • The proposed hub may finally see greater than 1.1 billion tonnes of CO2 safely saved deep underground in a saline aquifer – a important lever in enabling the Alliance’s purpose of web zero by 2050.
  • Conducting engineering research for the section 1 CO2 seize services.
    • 9 carbon seize feasibility research involving member corporations have been accomplished on oil sands websites, with engineering work advancing.
  • Accomplished pre-engineering work on the 400-kilometre pipeline that may carry captured CO2 to the storage hub; extra detailed engineering work is about to start.
  • Environmental area applications are underway to help regulatory utility submissions for the proposed CO2 transportation line and storage community. The Alliance is planning to submit these purposes in late This autumn of 2023.

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This and different work are underway by greater than 200 engineers, scientists, and specialists from Pathways Alliance corporations to advance applied sciences to attain the purpose of web zero.

Canadians can study extra about Pathways Alliance’s plan and its unprecedented degree of collaboration to develop and deploy applied sciences to scale back emissions by visiting https://pathwaysalliance.ca/cleartheair

Mark Cooper, Media Relations  
E-mail: [email protected]  

Advisory 

Cautionary Assertion: Statements of future occasions or situations on this press launch, together with projections, targets, expectations, estimates, and enterprise plans are forward-looking statements. Ahead-looking statements will be recognized by phrases equivalent to obtain, aspiration, consider, anticipate, intend, suggest, plan, purpose, search, undertaking, predict, goal, estimate, anticipate, forecast, imaginative and prescient, technique, outlook, schedule, future, proceed, seemingly, could, ought to, will and/or related references to outcomes in future durations. Ahead-looking statements on this press launch embrace, however usually are not restricted to, references to the viability, timing and affect of the web zero plan and the event of pathways in help of a net-zero future; help for the pathways from the Authorities of Alberta and the Authorities of Canada; the power to allow web zero emissions from oil manufacturing and protect financial contribution from the trade; the deployment of applied sciences to scale back GHG emissions; the power to create jobs, speed up improvement of the clear tech sector, present advantages for different sectors and assist preserve Canadians’ high quality of life; and making financial investments to make sure a profitable transition to a web zero world and delivering long run worth to shareholders. All net-zero references on this announcement apply to emissions from oil sands operations (outlined as scope 1 and scope 2 emissions). 

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Ahead-looking statements are primarily based on present expectations, estimates, projections and assumptions on the time the statements are made. Precise future outcomes, together with expectations and assumptions regarding: demand development and power supply, provide and blend; quantity and timing of emissions reductions; the adoption and affect of latest services or applied sciences, together with on reductions to GHG emissions; undertaking plans, timing, prices, technical evaluations and capacities, and the power to successfully execute on these plans and function belongings; that any required help for the pathways from the Authorities of Alberta and the Authorities of Canada will likely be offered; relevant legal guidelines and authorities insurance policies, together with local weather change and restrictions in response to COVID-19; manufacturing charges, development and blend; basic market situations; and capital and environmental expenditures, may differ materially relying on quite a lot of elements. These elements embrace international, regional or native modifications in provide and demand for oil, pure fuel, and petroleum and petrochemical merchandise and the ensuing value, differential and margin impacts; political or regulatory occasions, together with modifications in legislation or authorities coverage and actions in response to COVID-19; the receipt, in a well timed method, of regulatory and third-party approvals together with for brand spanking new applied sciences; lack of required help from the Authorities of Alberta and the Authorities of Canada; environmental dangers inherent in oil and fuel exploration and manufacturing actions; environmental regulation, together with local weather change and GHG regulation and modifications to such regulation; availability and allocation of capital; availability and efficiency of third-party service suppliers; unanticipated technical or operational difficulties; undertaking administration and schedules and well timed completion of tasks; reservoir evaluation and efficiency; sudden technological developments; the outcomes of analysis applications and new applied sciences, and skill to deliver new applied sciences to industrial scale on a cost-competitive foundation; operational hazards and dangers; basic financial situations, together with the incidence and length of financial recessions; and different elements referenced by the businesses’ of their most up-to-date respective annual experiences and administration’s dialogue and evaluation, as relevant. 

Ahead-looking statements usually are not ensures of future efficiency and contain quite a lot of dangers and uncertainties, some which can be just like different oil and fuel corporations and a few which can be distinctive to the businesses. Precise outcomes could differ materially from these expressed or implied by its forward-looking statements and readers are cautioned to not place undue reliance on them. The businesses undertake no obligation to replace any forward-looking statements contained on this press launch, besides as required by relevant legislation.

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