Canadian Oil Sands Alliance Cuts Alberta Carbon Capture Project by 70%, Saves $30 Billion in Revised Agreement
Canada’s Oil Sands Alliance and the Alberta government have reached a revised agreement to advance the Pathways Carbon Capture and Storage Project, scaling back the initial two stages by roughly 70% and delaying them by five years. The changes reduce upfront capital requirements by approximately $30 billion.
The updated framework ties the carbon infrastructure to 1MM Bbl/d of incremental takeaway capacity, a modification that investors describe as making the project financially workable. The revision marks what industry observers view as a significant alignment between Alberta’s government and oil sands producers.
From the sources (4 posts)
@ericnuttallAs a major investor in the Canadian oilsands, I view this announcement as a win. Pathways, while an unnecessary cost, has been modified to be acceptable, especially with an incremental 1MM Bbl/d of takeaway capacity tied to it. Initial 2 st
@staunovoCanada's Oil Sands Alliance reaches agreement to advance Pathways Carbon Capture and Storage Project #oott
@staunovoCanadian Oil Sands Firms Reach Carbon Capture Deal With Alberta #oott
@reutersljunggCanada's Oil Sands Alliance reaches agreement to advance Pathways Carbon Capture and Storage Project - #cdnpoli