Shell, governments agree funding Canadian CO2 storage project

Shell, governments agree for funding for Canadian CO2 storage project

12:19 PM, 27th June 2011
Shell, governments agree for funding for Canadian CO2 storage project
John Abbott, Executive Vice President of Heavy Oil, Shell.

HAGUE, THE NETHERLANDS: Shell has signed agreements with the Governments of Alberta and Canada to secure $ 865 million in funding for its Quest Carbon Capture and Storage Project (CCS) in Canada. The Quest Project will capture and permanently store deep underground more than one million tonnes of CO2 per year from Shell’s Scotford Upgrader near Edmonton, Alberta, which processes heavy oil from the Athabasca oil sands.

 “Not only would it allow us to significantly reduce the carbon footprint of our oil sands operation here in Alberta, but it will contribute to the global knowledge that will help to get other CCS projects up and running more quickly,” said John Abbott, Executive Vice President of Heavy Oil, Shell.

CCS is recognized as one of the most promising technologies to reduce greenhouse gas emissions from fossil fuels, informed the company.

The signing of the funding agreement was announced as part of an event marking the earlier start-up of Shell’s 100,000-barrel-per-day expansion of its Athabasca Oil Sands Project (AOSP), bringing total capacity to 255,000 barrels per day.

The Quest Project is being advanced on behalf of the AOSP, a joint venture among Shell Canada (60 per cent) Chevron Canada Limited (20 per cent) and Marathon Oil Canada Corporation (20 per cent).

© WOC News

 

 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Clariant initiates squeeze-out process for Süd-Chemie

  MUTTENZ, SWITZERLAND: Clariant initiated the squeeze-out procedure to acquire all of the remaining shares of Süd-Chemie AG from minority ...

Read more
Clariant appoints Hans-Joachim Müller, member of executive committee

MUTTENZ, SWITZERLAND: Clariant appointed Dr Hans-Joachim Müller as Member of its Executive Committee. He will join the company on July 1, 2011. H ...

Read more
Chemist solves riddle of killer diseases

Bacterial poison Anthrax, septicemia and meningitis are some of the planet’s most deadly infections. In part because doctors lack basic insights ...

Read more
Mylan launches first generic version of Entocort EC (R) capsules

PITTSBURGH, US: Mylan Inc announced the US district court for the district of Delaware has found after trial that Mylan subsidiary Mylan Pharmaceutica ...

Read more
BHP Billiton increases investment in Jansen potash project

MELBOURNE, AUSTRALIA: BHP Billiton announced approval for $ 488 million of further investment to support development of the Jansen Potash Project in S ...

Read more
Hempel starts new manufacturing unit in India

LYNGBY, DENMARK: Hempel is expanding its operations in India, by opening a new manufacturing unit in Nashik, Maharashtra. The company also plans to in ...

Read more