Cenovus Energy Inc. executive Jeff Lawson says that the company, along with other top oilsands producers, the Canadian government, and the Alberta government, are working to finalize agreements on the Pathways carbon storage project by November 15.
What happened
Lawson stated that the parties are facing a tight timeline to hammer out nuanced agreements, which are new and have not been drafted before. Despite the challenges, he noted that both levels of government have been pragmatic and supportive in pushing the project forward.
The Pathways project involves a pipeline network that would carry carbon dioxide captured from oilsands sites in northern Alberta to an underground storage hub near Cold Lake, Alta. The project aims to transport and store about six million tonnes per year of captured CO2 by the mid-2030s, with an additional 10 million tonnes of reductions targeted by 2045.
The project is part of a broader accord between Ottawa and Alberta, which includes regulatory and fiscal policies to spur oilsands growth and ensure the pipeline from Alberta to a tanker port in southern British Columbia can be filled.
