Canada Growth Fund (CGF) has announced a partnership with Strathcona Resources to develop carbon capture and sequestration (CCS) infrastructure at Strathcona’s SAGD oil sands facilities in Saskatchewan and Alberta. The SAGD CCS Partnership aims to capture and store up to two million tonnes of CO2 annually. Both CGF and Strathcona will invest up to $1 billion each in the project.
Strathcona, Canada’s fifth-largest oil producer, will build, own, and operate the CCS projects, receiving all investment tax credits. The partnership represents a novel risk-sharing approach, enhancing the competitiveness of Canada’s carbon-intensive industries by advancing large-scale CCS projects.
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