Natural Resources Minister to Approve More Carbon Capture Projects Soon

July 4, 2024 TruthUSA

Federal Natural Resources Minister Jonathan Wilkinson expects approximately 20 to 25 commercial-scale carbon capture and storage projects to commence in Canada over the next ten years.

Wilkinson made these remarks during an interview in Calgary, following Shell Canada’s announcement of moving forward with its Polaris carbon capture project in Alberta.

Shell’s approval of the project coincided with the passing of a new federal investment tax credit for carbon capture and storage. Companies are now eligible to apply for and receive this tax credit.

Wilkinson anticipates that more companies will make final investment decisions on carbon capture projects in the upcoming months.

He also expresses confidence in the Pathways Alliance proposed carbon capture and storage network, believing it will proceed as planned.

If developed, the $16.5 billion project led by a consortium of oilsands companies would rank among the largest carbon capture and storage initiatives globally.