Sumitomo Corporation of Americas, a subsidiary of Sumitomo Corporation, has acquired a significant equity interest in the East Calgary Carbon Transportation & Sequestration Project (the CTS Hub), a proposed CO2 transportation and sequestration development project.
Reconciliation Energy Transition and Sumitomo recently signed an agreement to grant Sumitomo the right to acquire an interest in the project that hopes to realise carbon capture, utilisation, and storage (CCUS) as a key technology to support decarbonisation.
The CTS Hub is expected to involve the construction of compression capacity, a CO2 pipeline network, and injection and monitoring wells to support permanent sequestration of CO2 in deep saline aquifers east of Calgary.
It is hoped that the first phase will be able to store three million tonnes of CO2 per annum.
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