Shell Proposes Large Scale Canada CCS Project
Shell (NYSE: RDS.A) has announced a proposal to build a large scale carbon capture and storage (CCS) project at its Scotford Complex near Edmonton, Canada.
The proposed Polaris CCS project, which would capture carbon dioxide from the Shell owned Scotford refinery and chemicals plant, is the largest in a series of low carbon opportunities Shell is exploring at Scotford, the company highlighted. The initial phase of the project is expected to start operations around the middle of the decade, subject to a final investment decision by Shell, which is expected in 2023.
Phase one of the Polaris CCS project would capture and store approximately 750,000 tons of CO2 per year and would reduce Shell’s direct and indirect emissions (Scopes 1 and 2) by up to 40 percent from the refinery and by up to 30 percent from the chemicals plant, according to Shell. The project would also create up to 2,000 jobs, the company revealed.
The second phase of the S project involves the creation of a CO2 storage hub in Alberta. Fully built, and contingent on acquiring pore space leases from the Province of Alberta, Polaris could serve as a CO2 storage hub for more than 10 million tons of CO2 each year, Shell noted.
“Shell is making bold moves to decarbonize our operations, and wider industry, and the Polaris CCS project is the latest example,” Susannah Pierce, Shell Canada president and country chair, said in a company statement.
“Our plans for Scotford are in line with Shell’s target to become a net zero emissions energy business by 2050, in step with society. We are creating a world class site that will provide customers with lower carbon fuels, products and CO2 storage,” Pierce added in the statement.
“Polaris would also make a significant contribution to Shell’s aim to have access to an additional 25 million tons a year of CCS capacity by 2035,” the Shell representative went on to say.
Sonya Savage, the Alberta minister of energy, said, “projects like Shell’s Polaris CCS show that Alberta is open for business and our oil and gas industry confidently looks to be a global player in a low carbon future”.
Beth (Hardy) Valiaho, the vice president strategy and stakeholder relations of the International CCS Knowledge Center, applauded Shell’s latest announcement.
“It builds on their expertise in CCS from both the Quest project and the capture technology at Boundary Dam 3 CCS facility,” Valiaho added.
“Through the Polaris CCS project and its potential to be a world class CO2 storage hub, we see, once again, the leadership of Shell Canada in large scale CCS as a means to reduce carbon emissions and ensure responsible and sustainable energy,” Valiaho continued.
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