Oilsands operators assured they will meet Canada’s web zero targets


An trade that has employed hundreds of Canadians, generated billions of {dollars} in financial funding and annual authorities income is now staring itself at maybe its largest problem but: dramatically greenhouse gasoline emissions in a comparatively quick time-frame. discount in gasoline emissions.

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Alberta’s oil fields generate about 70 million tons of emissions annually – a few tenth of Canada’s total emissions profile.

The trade itself has acknowledged that it wants to chop these emissions dramatically, and it was a essential subject of dialog on the annual oil sands convention and commerce present in Fort McMurray.

“With what we have solved over the previous 5 a long time, I do not fear an excessive amount of that our trade will not resolve it the subsequent one,” Drew Zieglgansberger advised the luncheon viewers on the second day of the convention.

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Zieglgansberger is the chief vp of Cenovus Power and oversees the corporate’s environmental improvements.

Cenovus is one among six main oilsand operators which have teamed as much as type the Pathway Alliance, a group effort to attain web zero by 2050.

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Many Canadian oils and operators are dedicated to turning into web zero emitters by 2050

Others embody Suncor, Canadian Pure Sources, MEG Power, Imperial Oil and ConocoPhillips. The six corporations function about 90 % of Canada’s oil and oil manufacturing.

“If you concentrate on the oils from a long time in the past, I believe lots of people had been seeking to perceive, ‘How can we make this economically viable? Zieglgansberger advised International Information on the Oil Sands convention.

“The problem we face in the present day is that persons are asking, ‘Are you able to make this environmentally viable?'”

Click to play video: 'Oil industry looking for federal funding to decarbonize oil and carbon'

Oil trade in search of federal funding to decarbonize oil and sands

Oil Trade Seeks Federal Funding To Decarbonize Oil – Aug 31, 2021

The Pathway Alliance has some early concepts on the way to get there.

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The primary foundational challenge entails putting in carbon seize, utilization and storage know-how at eleven totally different services and pipeting these emissions to an underground storage web site greater than 200 kilometers south close to Chilly Lake.

“It may take carbon seize and storage, it will take small modular nuclear reactors, it will take innovation and automatic AI studying, it will take all the above,” Zieglgansberger mentioned.

This may require important help from the federal government.

Ottawa has already outlined the design of tax credit for carbon seize know-how, and the Alberta authorities has introduced a sequence of investments from its TIER fund – the province’s levy on heavy emitters – to fund trade tasks to scale back emissions. to assist cut back.

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Canada seeks to faucet oil and nuclear energy amid pressing world want to chop emissions

The commerce present related to the convention was attended by lots of of representatives of companies that contract their companies within the oil sector, keen to assist with this problem.

“We’re an revolutionary chemical provider,” Kurt Benson advised International Information on the commerce present.

Benson is the gross sales supervisor for the chemical provide firm Novamen, primarily based out of Blackfields in central Alberta.

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Not solely do they supply trade with conventional solvents, however additionally they assist corporations enhance their environmental profile – from mud management to eradicating H2S from water.

“It is a plant-based product, utterly innocent, does not change water in any manner, form or type,” Benson mentioned.

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Landlocked: a world information sequence exploring Canada’s power dilemma

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