Carbon storage project unveiled - December 28, 2008

Providing coverage of Alaska and northern Canada's oil and gas industryDecember 2008

Vol. 13, No. 52

Week of December 28, 2008

Carbon storage project unveiled

TransCanada and utility company TransAlta are joining forces on a planned C$400 million carbon capture and storage project in Alberta.

Operated by TransAlta, Project Pioneer would remove carbon from a coal-fired power plant near Edmonton and either inject it underground or ship it to aging oil fields for enhanced recovery.

The terms of TransCanada’s participation were not disclosed.

TransAlta also said it is looking for partners in the oil industry and seeking financial support from the Canadian and Alberta governments.

The company said it hopes to negotiate those commitments in 2009, start construction in early 2010 and start operations in 2012.

The project is designed to meet at least 20 percent of the Alberta government’s goal of reducing carbon dioxide emissions by 5 million metric tons a year by 2015.

—Gary Park

Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
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