Cross-sector coalition of 18 of Canada's largest companies applauds $2B government commitment to Carbon Capture and Storage



    CALGARY, July 9 /CNW/ - ICO(2)N - the Integrated CO(2) Network - a
coalition of 18 large Canadian companies today praised the Alberta government
for its $2 billion commitment to Carbon Capture and Storage (CCS) development.
The industry group said Alberta is showing strong leadership and will play a
significant role in helping to enable large-scale deployment of CCS in
Alberta.
    This investment will enable Alberta to demonstrate international
leadership on CCS technologies. CCS holds tremendous potential and is one of
the largest means for Alberta and Canada to reduce greenhouse gas (GHG)
emissions. ICO(2)N's proposed CCS initiative holds the potential of reducing
carbon dioxide emissions by more than 20 million tonnes per year - the
equivalent of removing four million vehicles from the road.
    "Yesterday's announcement demonstrates the Alberta government's
recognition that CO(2) emission reductions are important across both the
energy producer and energy consumer segments of Alberta's economy," said
ICO(2)N Chair, Stephen Kaufman. "CCS is an important technology to transform
our energy infrastructure. Similar to other nation building activities like
the national railways, St. Lawrence Seaway system and the TransCanada
pipeline, having shared participation by industry and governments will be
essential."
    "CCS is a vital technology for Alberta that has the potential to help
provide sustainable energy growth for Albertans by allowing for the
development of "clean coal" for affordable electricity generation and the
sustainable and environmentally responsible development of Alberta's oilsands.
CCS will be a 'made in Alberta' and 'made in Canada' solution. The investment
will occur here, the CO(2) reductions will occur here and the knowledge will
accrue here."
    Kaufman also noted that for CCS to move beyond this initial deployment
will require industry and the provincial and federal governments to continue
to work together to address long-term policy, financial risk-sharing and the
regulatory approvals process.

    Integrated CO(2) Network (ICO(2)N)

    ICO(2)N is a group of 18 Canadian corporations representing a variety of
emitters who have put significant effort into studying CCS and advancing the
knowledge of CCS deployment in Canada for more than 3 years now.
    6 members of ICO(2)N are involved with the recently formed Alberta Carbon
Capture and Storage Development Council.

    ICO(2)N participating companies include:

    
    -   Agrium Inc.                      - Nexen Inc.
    -   Air Products Canada Inc.         - Opti Canada Inc.
    -   Canadian Natural Resources Ltd.  - Shell Canada Ltd.
    -   Chevron Canada Ltd.              - Sherritt International Corporation
    -   ConocoPhillips Company           - StatoilHydro Canada Ltd.
    -   EPCOR                            - Suncor Energy Inc.
    -   Husky Energy Inc.                - Syncrude Canada Ltd.
    -   Imperial Oil Ltd.                - Total E&P Canada Ltd.
    -   Keyera                           - TransAlta Corporation
    





For further information:

For further information: Stephen Kaufman, ICO(2)N Chair, is available
for media interviews. To schedule an interview, please contact: Lisa Rollins,
Communica Public Affairs, (403) 263-6830 ext. 229

Organization Profile

ICO2N

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890