The Pathways Alliance focuses on the suite of technologies that drive the Net Zero Plan.Canadian Business Journal

CALGARY, Alberta, Nov. 10, 2022 (GLOBE NEWSWIRE) — The Pathways Alliance, which represents Canada’s largest oil sands producers, has announced an additional announcement on its plans to advance innovative technologies to reduce emissions. announced the details. Aim for net zero by 2050.

The list of technologies was developed by the Alliance as part of Canada’s official delegation to the United Nations Climate Change Conference (COP27) in Sharm El Sheikh, Egypt, to help Canada meet its climate commitments. Emphasizing work.

Kendall Dilling, President of the Pathways Alliance, said:

“Cutting-edge technology is one of the most important tools we have for reducing emissions globally, and Pathways Alliance companies have a long track record of world-class research and development (R&D) investment. I look forward to a healthy exchange of views with delegates from around the world at COP27.”

The Pathways Alliance brings together scientists, engineers and other experts from member companies to implement plans to reduce absolute CO emissions.₂ Reduce emissions by 22 million tons by 2030 and reach net zero by 2050. These industry experts are focused not only on building basic carbon capture networks and storage hubs by 2030, but also on developing the next generation of his GHG reduction technologies.

Technologies prioritized for Pathways Alliance collaboration and acceleration include:

• Carbon capture and storage (CCS)Pathways currently has several CCS technology development projects underway, including:
  • Piloting next-generation technologies, such as those developed by Svante and using molten carbonate fuel cells.
  • Continuous improvement of recovery plants to improve energy efficiency and cost efficiency.
  • Identifying and developing plans to reduce the cost of next-generation capture technologies.
  • CO feasibility assessment₂ Quarantine in a depleted gas field.
• Decarbonization of natural gas and utilization of hydrogen Removes a high percentage of carbon from natural gas streams prior to combustion in oil sands facilities. The current members of Pathways are:
• Steam reduction technology Reduces the need for steam in bitumen production.
  • Pilot of next-generation concentrated solvent technology developed at Imperial’s Oil and Gas Research Center
  • Solvent-assisted SAGD optimization

Pathways’ technical development plan also includes some work. Other keys technology Achieving net zero by 2050 will require:

With expected co-investment support from the Government of Canada, the Pathways Alliance recently announced plans to invest $24.1 billion by 2030 in the first phase of the plan.

Approximately $16.5 billion will support a proposed carbon capture and storage network in northeastern Alberta. Once built, the network will be one of the largest in the world. An additional $7.6 billion is planned for investment in major emission reduction projects and technologies.

Between 2012 and 2021, the six Pathways Alliance member companies have invested over $10 billion in research and development of various technologies.Some of these have helped the industry reduce CO per barrel₂ Emissions will drop by about 20% between 2009 and 2020, according to S&P Global.

Founded in 2021, the Pathways Alliance is a partnership of Canadian Natural, Cenovus Energy, ConocoPhillips Canada, Imperial, MEG Energy and Suncor Energy, which collectively manage approximately 95% of Canada’s oil sands production.

Canadians can visit https://pathwaysalliance.ca to learn more about the Pathways Alliance’s plans and the unprecedented level of collaboration to develop and deploy technologies that reduce emissions.

contact: Mark Cooper, Media Relations
Email: [email protected]

advisory

Cautionary Note: Statements of future events or conditions in this press release, including predictions, goals, expectations, estimates and business plans, are forward-looking statements. Forward-looking statements are not intended to achieve, wish, believe, predict, intend, propose, plan, aim, seek, project, forecast, target, estimate, expect, forecast, vision, strategy, outlook, schedule, It can be identified by words such as the future. , likely to continue, likely to, could, should, and/or similar references to future period results. Forward-looking statements in this press release include, but are not limited to, references to the feasibility, timing and impact of the Net Zero Plan and the development of pathways to support a Net Zero future. . Support for channels from the Government of Alberta and the Government of Canada. Ability to enable net zero emissions from oil production and sustain the economic contribution from the industry. Deployment of technologies to reduce GHG emissions. Ability to create jobs, accelerate development of the clean technology sector, benefit other sectors, and maintain quality of life for Canadians. We make financial investments to successfully transition to a net-zero world and deliver long-term value to our shareholders. All zero net references in this announcement apply to emissions (defined as Scope 1 and Scope 2 emissions) from our oil sands operations.

Forward-looking statements are based on expectations, estimates, projections and assumptions at the time the statements are made. Actual future results, including expectations and assumptions about demand growth and energy sources, supply and mix. The amount and timing of emissions reductions. adoption and impact of new facilities or technologies, including reductions in GHG emissions; project planning, timing, costs, technical assessments and capabilities, and ability to effectively execute these plans and operate assets; Provide necessary support for passage from the Government of Alberta and the Government of Canada. Applicable laws and government policies, including climate change and restrictions in response to COVID-19. Production rate, growth, mix. General market conditions; capital expenditures and environmental expenditures can vary significantly depending on many factors. These factors include global, regional or regional changes in demand and supply of oil, natural gas, petroleum and petrochemicals and their consequent effects on prices, variances and margins . Political or regulatory events, including changes in laws or government policies and actions in response to COVID-19. Receive regulatory and third-party approvals in a timely manner, including for new technologies. Lack of necessary support from the Alberta and Canadian governments. Environmental risks inherent in oil and gas exploration and production activities. Environmental regulations, including climate change and his GHG regulations, and changes to such regulations. Availability and allocation of capital. Availability and performance of third-party service providers. Unforeseen technical or operational problems. Project management and scheduling, and timely completion of projects. reservoir analysis and performance; unexpected technology developments; research program and new technology outcomes, and the ability to bring new technologies to cost-competitive commercial scale. operational hazards and risks; general economic conditions, including the occurrence and duration of economic downturns; and, where applicable, other factors referenced by the company in its most recent respective annual reports and management’s discussion and analysis.

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