An integrated approach to CCS: A Canadian environmental superpower opportunity

Abstract

Abstract The wide-scale public and governmental pressure to reduce the emissions of greenhouse gasses in developed nations has the potential to threaten the future growth and profitability of energy intensive industries. Because of this new paradigm, a group of 20 major oil & gas, power, fertilizer and chemical producers in Canada joined forces in 2005 to form the Integrated CO 2 Network (I CO 2 N) group of companies. This group recognized that developing CO 2 capture and storage (CCS) within a vision of a long -term, large-scale integrated system would ensure that the technology is developed as quickly and cost -effectively as possible, and would encourage continued economi c growth decoupled from increases in greenhouse gas (GHG) emissions. Decisions about a phased and integrated CCS system requires a long -term focus on Canada’s energy and environmental policy objectives (2020 and beyond). This paper outlines the efforts to date by I CO 2 N to move CCS for ward in Canada—through its work on the economics of deploying CCS technology in Canada, what deployment of an integrated CO 2 capture, transportation and storage network can look like and the evaluation of public private partnerships to share in the risks of early CCS adoption. Analysis is presented that quantifies the overall potential of the technology and explores the benefits and costs associated with CCS, including the associated benefits of the development of an EOR industry through the deployment o f an integrated CCS system. It also puts forward 5 key elements of deployment that are necessary to enable the widespread deployment of CCS at lowest possible cost. The I CO 2 N group of companies includes the following nineteen companies: Suncor, TransAlt a, Sherrit, Agrium, Air Products, Shell, Husky, ConocoPhillips, Syncrude, Imperial Oil, Nexen, Canadian Natural Resources Limited, Keyera, EPC OR, Total, Chevron, StatoilHydro, Opti, Devon, and BP.