MOU agreement a step forward to support growth and advance the proposed Pathways CCS Project

The trilateral MOU contemplates a series of regulatory reforms and fiscal measures needed to accelerate oil sands production growth and get products to new markets, including via the proposed West Coast Oil Pipeline.

It also signals a continued commitment to supporting a more resilient, competitive, and sustainable Canadian oil sands sector through measures including:

• A commitment by both governments to:
  • Ensure their respective policy and fiscal frameworks are effective in supporting oil sands production growth.
  • Streamline regulatory frameworks to be more efficient.
• A policy and fiscal framework that supports the development of the proposed Pathways Carbon Capture and Storage Project.

Advancing the proposed Pathways Project as outlined in the MOU is subject to execution of definitive agreements and regulatory approvals. When operational, the Pathways Project will have the capacity to safely transport and store about 6 million tpy of captured CO₂ by the mid-2030s from multiple oil sands facilities to a hub in the Cold Lake area for permanent underground storage. The Alliance will also work toward the objective of additional reductions in subsequent years which may be achieved by leveraging the Pathways Project, deployment of other emission reduction technologies, or projects deploying improved production practices.

"We believe we've achieved a framework that is positive for the oil sands industry and provides a step forward to help enable production growth and to advance the Pathways Project," said Oil Sands Alliance President Kendall Dilling. "It helps meet our shared vision to grow Canadian oil production and benefit Canadians across the country. Our members will continue to work with both the provincial and federal governments to ensure Canada is a competitive destination for energy investment."

Read the article online at: https://www.oilfieldtechnology.com/special-reports/14072026/mou-agreement-a-step-forward-to-support-growth-and-advance-the-proposed-pathways-ccs-project/