Billions for CCUS

Pathways Alliance CCS Project Poised for Multibillion-Dollar Investment Backing

Canada Growth Fund (CGF) has proposed funding support for the carbon capture and storage (CCS) project led by the Pathways Alliance, a consortium of the largest oil sands producers, including Canadian Natural Resources, Cenovus, and Suncor.

This project, estimated to cost C$16.5 billion, aims to capture emissions from Alberta’s oil sands and is critical to meeting Canada’s climate targets.

The Canada Growth Fund (CGF) is set to finance a significant portion, although final agreements are reportedly still under negotiation, with investment decisions expected by mid-2025.

Other government support includes a 50% tax credit for CCS and is expected to offer additional support through contracts for difference (potentially through the CGF?), helping to stabilize future carbon prices.