OTTAWA, June 22, 2016 /CNW/ - Supporting clean technology will improve the environmental performance of Canada's oil and gas sector and will help address climate change while Canada transitions to a low-carbon economy over time.
Budget 2016 provided $50 million over two years to support the development of clean technologies for Canada's oil and gas sector. This could include next-generation extraction technology to reduce greenhouse gas emissions from oil sands operations, or innovations that reduce fresh water use or improve air quality.
Canada's Natural Resources Minister, the Honourable Jim Carr, today announced the Government of Canada is seeking proposals to access the Oil and Gas Clean Tech Program. Projects selected under the fund will demonstrate industry-led clean technologies that, once commercialized, could be more widely adopted across the oil and gas industry to improve environmental performance and help reduce greenhouse gas emissions both domestically and globally.
This initiative also helps Canada meet its Mission Innovation commitment to double its 2014–2015 funding of $387 million for clean energy and clean technology research and development to $775 million by 2020. Under Mission Innovation, Canada stands with 20 governments and the European Commission, which agreed to double their respective investments in transformative, clean energy research and development over five years, encourage private sector investment in clean energy technology and increase collaboration among participating countries.
The Government of Canada will continue to support a clean-growth economy to help Canada access global clean energy markets and create jobs.
"Investing in innovative cleaner oil and gas technologies will help Canada sustainably develop our natural resources and improve our global competitiveness. I look forward to the innovative projects that will come forward and to improved oil and gas environmental performance as we transition to a low-carbon economy."
Canada's Minister of Natural Resources
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SOURCE Natural Resources Canada
For further information: Alexandre Deslongchamps, Press Secretary, Office of the Minister of Natural Resources, 343-292-6837; Media Relations, Natural Resources Canada, Ottawa, 343-292-6100