Canada Growth Fund and Strathcona Partner on CCS

Canada Growth Fund and Strathcona Resources Ltd. have partnered on a carbon capture and sequestration project, each committing up to $1 billion for infrastructure across oil-sands facilities in Saskatchewan and Alberta. The project aims to capture and store up to two million tonnes of carbon dioxide annually, with the Canada Growth Fund funding half of the capital costs. Strathcona will retain ownership of the carbon credits and expects to recoup its share of costs through federal tax credits. This partnership marks a unique risk-sharing approach in carbon capture, aiming to reduce emissions and enhance industry competitiveness. Strathcona's initiative challenges traditional views on decarbonization in the oil sector, emphasizing long-term value and community benefits over carbon pricing concerns.