The Canada Growth Fund (CGF) and Strathcona Resources have announced a partnership to build carbon capture and sequestration infrastructure.
The infrastructure builds on Strathcona’s steam-assisted gravity drainage oil sands facility.
Strathcona will seek to capture and permanently store up to two million tonnes of carbon dioxide annually, with CGF and Strathcona each contributing up to $1.0 billion in project funding.
Their oil sands facilities in Lloydminster and Cold Lake are located near suitable storage reservoirs allowing for carbon dioxide to be injected directly on site.
"Strathcona is proud to be leading the Canadian oil and gas sector towards reducing our carbon intensity, prudently and profitably," said Adam Waterous, executive chairman of Strathcona.
Strathcona will build, own and operate all carbon capture and sequestration infrastructure.
Read more: Oil shows draws red carpet supporters
Locally owned and community driven, the Lloydminster Meridian Source is the online news source in the Border City. Whether it’s breaking news, features or sports, if you have questions about what’s going on around town, Source it with us!Â
Since online platforms no longer support the sharing of news, we encourage you to bookmark meridiansource.ca. Whether you’re having a coffee or enjoying a meal, check in any time for the most up-to-date news in Lloydminster.
