Canada's main oil-producing province Alberta on Thursday selected six proposals to move forward with developing Canada's first carbon storage hubs, intended to help cut climate-warming emissions by permanently sequestering them underground.
Thursday's announcement is the latest step in Alberta's efforts to grow a carbon capture and storage industry that the International Energy Agency says is critical if the world is to hit net-zero emissions by 2050. The IEA estimates carbon storage capacity needs to reach 7.6 billion tonnes, up from around 40 million tonnes currently.
A number of other jurisdictions, including the U.S. Gulf Coast and Britain, are also pushing to develop CCS hubs that are accessible to multiple emitters and are seen as a way of streamlining the costs and infrastructure required. The six proposed hubs are all located near Alberta's capital Edmonton and will store emissions captured from facilities in the Alberta Industrial Heartland zone, home to a cluster of refineries, petrochemical and fertilizer plants.The next step is for the companies selected to work with government to assess whether their proposed locations are suitable for storing carbon permanently. If successful they will be awarded so-called "pore space" rights to inject carbon underground.
"This will help meet the increasing demand from industry and help significantly reduce emissions," she said in a statement. Savage told Reuters in January the hubs would probably take a couple of years to develop.
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