Suncor Energy aims for net-zero emission target by 2050
Source: Reuters
Canada’s cash-rich oil sands firms are facing mounting pressure to spend on transitioning towards cleaner energy at a time when Prime Minister Justin Trudeau has pledged to cut carbon emissions 45% below 2005 levels by 2030.
Suncor and ATCO expect to make a sanctioning decision in 2024 and, if finalized, the project could be operational by 2028.
The hydrogen project would be the biggest in Canada and among the top quartile globally. It would produce more than 300,000 tonnes per year of clean hydrogen, and cut carbon emissions in Alberta by more than 2 million tonnes per year.