Calgary/CMEDIA: A memorandum of understanding (MoU) reportedly has been signed by the Alberta government, Ottawa and five major oil sands producers to advance the multibillion-dollar Pathways carbon capture and storage project.
A new West Coast oil sands pipeline moving ahead is conditional to the Pathways project.
The federal government has committed to extending investment tax credits for various carbon capture equipment to 2035, with Alberta to finalize its own incentive program for carbon capture.
The memorandum of understanding says the Pathways project would proceed in stages, with a Jan. 1, 2035, completion date.
Canadian Natural Resources, Imperial Oil, Suncor, Cenovus and ConocoPhillips are the members of the consortium behind the Pathways alliance.
