7/7/2023 0 Comments Carbon capture![]() The announcement took place at the Shepard Energy Centre in Calgary.Ĭarbon Capture Kickstart is intended to lay the groundwork for significant future investments by funding pre-construction studies for facility-specific opportunities. If successful, these projects could lead to over $20 billion in capital expenditures, create thousands of jobs, and reduce about 24 million tonnes of emissions annually-this is the equivalent of reducing Alberta’s annual industrial emissions by almost 10 per cent.įunding recipients from the Carbon Capture Kickstart Challenge were announced on Wednesday, Jby Minister of Alberta Environment and Parks, Whitney Issik Minister of Energy, and ERA CEO, Justin Riemer. CO 2 EOR and storage schemes are expected to store large volumes of CO 2 to help reduce greenhouse gas emissions.ERA is committing $40 million from the Government of Alberta’s Technology Innovation and Emissions Reduction (TIER) fund to 11 projects worth $194 million. We have been regulating CO 2 EOR schemes for more than 25 years. Using CO 2 in EOR schemes improves the production of residual oil which also has the effect of permanently sequestering some CO 2. An example of a CO 2 sequestration project that has received AER approval is the Shell Quest CCS project.Ģ) Carbon Capture, Utilization, and StorageĬCUS projects are also referred to as CO 2 enhanced oil recovery (EOR) and storage schemes. A carbon sequestration tenure or agreement from the Government of Alberta is required if a company wants to apply for a CCS project. A CO 2 sequestration scheme is the permanent storing and trapping of CO 2 in an approved subsurface formation. The AER regulates two types of CCUS processes:ĬCS projects are also referred to as CO 2 sequestration schemes. ![]() CCUS technologies are recognized by the Government of Alberta as effective tools for reducing emissions and mitigating the effects of climate change.
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