Last year, Canada joined the “club” of the more than 70 countries with a goal of net-zero emissions. In the 2022 federal budget presented in April, the Trudeau government proposed a fiscal plan to support investment in CCUS and DACCS projects. CAD 2.6 billion (around NOK 20 billion) has been earmarked in the budget for 2022-2026, but the support is expected to total CAD 8.6 billion by 2030. The goal is cut national emissions by 15 million tonnes of CO2 per year by 2030. 

Surveying carbon storage opportunities

In March, the Government of Alberta designated six locations and operators to survey carbon storage opportunities. The goal is to establish an open network for this sort of storage in the province. The initiatives announced have received a mixed response. The CEO of Cenovus, one of Canada’s major oil companies that focuses on oil sands and is based in Alberta, recently said that the authorities have not done nearly enough to help companies achieve their climate goals. Alberta is unquestionably the province of Canada with the largest production of oil and gas and the largest carbon emissions. According to an article in Nature published in 2020, Canada is one of the countries with the largest greenhouse gas emissions per barrel of oil produced.

This is a part of the CCS environmental analysis, written by Gassnova’s analysis team. Please visit our CCS dictionary if there are professional expressions or abbreviations in this text you are not familiar with.