Shell to Proceed With Two Carbon Storage Projects in Canada
By Robb M. Stewart
Shell has given the go-ahead to a pair of carbon-capture projects in Western Canada that aim to store underground carbon dioxide emissions from the energy company's operations that would otherwise be released into the atmosphere.
The company's Shell Canada Products subsidiary on Wednesday said a final investment decision has been made on the Polaris project in Alberta, which is designed to capture about 650,000 metric tons of CO2 a year from Shell's Scotford refinery and chemicals operations.
Shell Canada and 50-50 partner ATCO EnPower also gave the green light to proceed with the Atlas Carbon Storage Hub, which initially will provide permanent underground storage for CO2 captured by the Polaris project and later could offer storage for other companies.
Both projects are expected to begin operations in late 2028, Shell Canada said.
The projects build on Shell's Quest facility in Alberta, which Shell said has captured and store more than 9 million tons of CO2 since 2015.
Shell in June laid out plans to invest $10 billion to $15 billion from 2023 to 2025 to develop low-carbon energy projects, including lower-carbon fuels, renewable power generation, hydrogen and carbon capture and storage.
Canada's ATCO EnPower said the Atlas Carbon Storage Hub, which will be located east of Edmonton, is expected to provide a resource for emitters in Alberta's industrial heartland to reduce their carbon emissions and carbon tax liability.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
June 26, 2024 08:08 ET (12:08 GMT)
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