Shell mulls more carbon capture projects in Alberta as Quest hits 5 million tonne milestone [Financial Post (Toronto, Ontario, Canada)]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Financial Post
CALGARY – Shell Canada Ltd. is considering new carbon capture and storage (CCS) projects in Alberta as it celebrates a milestone of sequestered carbon dioxide from its Quest project near Edmonton. Shell on Friday announced its Quest CCS project in Fort Saskatchewan, just outside Alberta’s capital, has stored five million tonnes of CO2 in the five years it has been operational, which is equivalent to taking about 1.25 million cars off the road. The cost to operate Quest, a CCS project connected to an oilsands upgrader, is also about 35 per cent less than originally forecast in 2015. Parent company Royal Dutch Shell PLC has taken what it’s learned from the Quest facility, built with $120 million in federal funds and $745 million from Alberta, to other carbon capture projects around the world, including the recently sanctioned Northern Lights CCS project in Norway alongside Total SA and Equinor ASA. Despite Alberta's warnings, oil majors Shell and BP are falling in love with carbon captu
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