Federal Natural Resources Minister Jonathan Wilkinson anticipates the construction of 20 to 25 commercial-scale carbon capture and storage projects in Canada over the next decade.
Wilkinson shared this projection during an interview in Calgary, following Shell Canada’s announcement of the green light for its Polaris carbon capture project in Alberta.
Shell’s decision to proceed with the project coincided with the approval of a new federal investment tax credit for carbon capture and storage. Companies are now eligible to apply for and receive this tax credit.
Wilkinson is optimistic about the potential for more companies to make final investment decisions on carbon capture in the near future.
He also expressed confidence in the realization of the Pathways Alliance proposed carbon capture and storage network, which, if implemented, would be one of the largest projects of its kind globally, with a price tag of $16.5 billion.
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