A Phased Approach to Achieve Net Zero EmissionsJuly 16, 2021
On June 9, 2021, the alliance declared our ambition to work together and with governments to achieve net zero greenhouse gas (GHG) emissions from our oil sands operations by 2050. The path forward to reduce emissions of 68 Mt of CO2 per year is supported by a three-phase approach. Because no single solution will get us to net zero, multiple parallel pathways are needed – from electrification, fuel substitution and energy efficiency to carbon capture, process improvements and emerging technology.
The first phase includes our foundational project, a major carbon capture utilization and storage (CCUS) trunkline connecting oil sands facilities in the Fort McMurray, Christina Lake and Cold Lake regions of Alberta to a carbon sequestration hub near Cold Lake. The trunkline would have phased expansion capability to gather captured CO2 from more than 20 oil sands facilities and it would also be available to other industries interested in capturing and sequestering CO2.
We have seen success in reducing GHG emissions with similar CCUS projects in Norway and the Netherlands. Our path forward takes lessons learned from these countries and builds upon them for a made-in-Canada solution. These projects have shown that collaboration between industry and governments can make a significant impact toward achieving net zero emissions.The Pathways Vision