By Canadian Press

Group of large oilsands operators commit to become net-zero emitters by 2050

Jun 9, 2021 | 12:30 PM

CALGARY – A group of the largest producers in Canada’s oilsands have announced a joint strategy Wednesday to reach net-zero greenhouse gas emissions by 2050.

The companies include Canadian Natural Resources Ltd., Cenovus Energy Inc., Imperial Oil Ltd, MEG Energy Corp., and Suncor Energy Inc.

A large part of the strategy includes building a carbon sequestration facility in Cold Lake, Alta. The group says the facility would be available for other industries to use as well.

The companies also plan to pilot emerging carbon reduction technologies around oilsands operations, such as direct air capture, which uses a mechanical system to extract carbon dioxide out of the air.

The companies say the project will need significant investments and was made possible because of support programs from the federal and Alberta governments.

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This collaborative effort amongst oilsands peers shows our serious commitment to global climate leadership,” Cenovus CEO Alex Pourbaix said in a statement.

This report by The Canadian Press was first published June 9, 2021.

The Canadian Press