Oilsands Industry Pledges Commitment to Pathways Carbon Capture Project

Murray Edwards, executive chair of Canadian Natural Resources (CNRL), says the oilsands industry is committed to moving forward with the Pathways carbon capture project in Alberta. The $20-billion project has been a long time coming, but Edwards believes it's essential for reducing the sector's carbon footprint and making the industry more competitive.

Edwards stated that the industry has invested hundreds of millions of dollars in pre-engineering and feasibility studies for Pathways, demonstrating its commitment to decarbonization. He emphasized that while the project needs better rules and regulatory policies to make economic sense, there is a 'full commitment' from the industry to see it through.

Edwards also suggested that the Pathways project should be developed alongside a new West Coast pipeline, which would require an additional $30 billion to $35 billion in investment. He believes this would create opportunities for production growth and attract more investment to the sector.

The Alberta government has established a program offering a 12% grant to carbon capture developments, while the federal government has committed to supporting the project through an investment tax credit that covers up to half of the capital expenses.