The Government of Saskatchewan this week unveiled ambitious carbon capture, utilisation and storage (CCUS) goals, stating that it is looking to invest more than $2bn in the sector.
Such goals were formalised by the province’s Energy and Resources Minister Bronwyn Eyre, who said that with such investment, Saskatchewan wants to sequester more than two million tonnes of CO2 annually.
“We want to build on Saskatchewan’s energy strength and make our province the most competitive jurisdiction in Canada to invest in CCUS technology and infrastructure,” Eyre said.
“Saskatchewan is already a world leader in carbon capture, particularly with enhanced oil recovery (EOR), which leading environmentalists agree countries can’t achieve Paris Accord Targets without.”
“CO2 EOR also emits 82% fewer emissions than traditional extraction methods.”
Over the last 25 years, Saskatchewan EOR projects have already sequestered more than 40 million tonnes of CO2, which has also resulted in over 100 million barrels of incremental oil production.
CCUS can also capture CO2 and use it as part of other industrial processes, including ‘green’ concrete and biofuels.