Canada proposes to back oil-sands giants' carbon-capture project, The Globe and Mail reports
Oct 27 (Reuters) -Canada's federal financing agency Canada Growth Fund (CGF) has proposed funding support for a multibillion-dollar carbon-capture investment by Pathways Alliance, representing Canada's biggest oil sands producers, The Globe and Mail reported.
The CGF's proposal is expected to kick off further negotiations, but a final deal is likely months away, as both sides remain apart on key terms, according to the report on Sunday, citing sources familiar with the matter.
Carbon capture is a process through which carbon dioxide generated from industrial activity is stored underground. The report didn't mention any financial details about the investment.
Pathways Alliance and Canada Growth Fund didn't immediately respond to Reuters' requests for comment.
Pathways Alliance has been proposing a C$16 billion ($11.51 billion) investment in a carbon capture and storage (CCS) project to cut carbon emissions from the oil sands. The plan, however, has faced criticism from environmentalists for slow progress and seeking more government financial support.
Pathways Alliance is made up of Canadian Natural ResourcesCNQ.TO, Cenovus CVE.TO, ConocoPhillips Canada, Imperial IMO.TO, MEG Energy MEG.TO and Suncor Energy SU.TO representing about 95% of Canada' oil sands production, according to its website.
CGF, meanwhile, is a $15 billion public investment vehicle that helps attract private capital to build Canada's clean economy by using investment instruments that absorb certain risks, in order to encourage private investment in low-carbon projects, technologies, businesses, and supply chains, according to its website.
Earlier this year, Canadian oil producer Strathcona Resources SCR.TO partnered with CGF to build carbon capture and sequestration infrastructure in Saskatchewan and Alberta provinces.
($1 = 1.3895 Canadian dollars)
Reporting by Bipasha Dey in Bengaluru; Editing by Rashmi Aich
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
