The federal and Alberta governments signed a memorandum of understanding with the Pathways Alliance to advance a multi-billion dollar carbon capture and storage (CCS) project.
The consortium includes Canadian Natural Resources and four other major oilsands producers. The project will capture emissions from more than 12 oilsands facilities and transport them via pipeline to an underground storage hub near Cold Lake, Alberta.
This initiative serves as a mandatory condition for the approval of a new West Coast oilsands pipeline. As part of the agreement, the federal government will extend investment tax credits for carbon capture equipment to 2035.
Alberta will finalize its own incentive program to support the collaborative fiscal framework. The project is scheduled for completion by January 1, 2035.