Canada's Oil Producers Set Sights on 2027 for Pathways Carbon Capture Decision

Canada's largest oil producers are targeting late 2027 for a final investment decision on their proposed carbon capture and storage project, known as Pathways. The project aims to reduce greenhouse gas emissions from Canadian oil sands production by transporting CO2 through a pipeline and storing it in a hub.

The Oil Sands Alliance, which represents major players like Canadian Natural Resources, Imperial Oil, Suncor Energy, Cenovus Energy, and ConocoPhillips Canada, is optimistic about the project's progress. Kendall Dilling, the alliance's president, believes that oil sands companies will reach definitive agreements with Alberta and federal governments on fiscal terms by mid-November.

This agreement would pave the way for a potential decision to move forward with the multi-billion-dollar Pathways project. However, regulatory approvals and other factors may influence the timeline, with Dilling suggesting late 2027 or early 2028 as a realistic target.