(Bloomberg) -- A group of Canadian oil sands producers took an initial step in constructing a C$16 billion carbon capture and storage network that would help slash the industries carbon emissions.
The Pathways Alliance issued a request for proposals to pipe manufacturers for a proposed transportation pipeline that would move carbon captured at oil sands sites south to a sequestration near Cold Lake, Alberta, Brad Corson, chief executive officer of Imperial Oil Ltd, said in an earnings call Friday.
The alliance of oil sands producers, which produce some of the highest carbon-emitting grades of crude in the world, seeks to cut emissions by 22 million metric tons by 2030 mostly through stripping carbon from oil sands facilities and storing it underground. The industry has been in negotiations with the federal and provincial governments for tax credits and other subsidies to support the network, talks which are threatening to delay implementation of the project.
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