REGINA — The Province of Saskatchewan is going all in on carbon capture utilization and storage (CCUS) projects.
“We want to build on Saskatchewan’s energy strength and make our province the most competitive jurisdiction in Canada to invest in CCUS technology and infrastructure,” said Bronwyn Eyre, energy and resources minister, in a statement. “Saskatchewan is already a world leader in carbon capture, particularly with enhanced oil recovery, which leading environmentalists agree countries can’t achieve Paris Accord Targets without. CO2 EOR also emits 82 per cent fewer emissions than traditional extraction methods.”
The province expects CCUS projects will attract provincial investment of more than $2 billion and sequester over two million tonnes of CO2 annually.
According to officials, during the last 25 years enhanced oil recovery (EOR) projects in the province have sequestered more than 40 million tonnes of CO2, which has also resulted in over 100 million barrels of incremental oil production.
Eyre noted approximately 200 million barrels of production will be added over the life of these and other EOR projects, significantly increasing the life-cycle and sustainability of these wells. The province believes CCUS can also capture CO2 and use it as part of other industrial processes, including green concrete and biofuels.
“Increasing the potential availability of CCUS hubs and facilities will also encourage further development of hydrogen production and enable hydrogen producers to further reduce their environmental footprint by storing CO2 underground,” said the province in a release. “Despite numerous recent changes to federal emissions standards and targets, the province’s CCUS priorities will aim to provide stability and certainty for the energy sector as it contemplates significant investments in CCUS projects.”
The province called on the federal government to engage with the province to advance these priorities to help meet federally-mandated emission targets.