The Globe and Mail reports in its Thursday edition that Cenovus sustainability officer Jeff Lawson warns that top oil sands producers, Ottawa and the Alberta government need to finalize agreements for the Pathways carbon storage project by their mid-month deadline.
A Canadian Press dispatch to The Globe reports that Mr. Lawson says, "We have some incredibly nuanced, bespoke agreements to hammer out, and they're tough because they're new."
Members of the Oil Sands Alliance reached a non-binding memorandum of understanding with Ottawa and the province in July. They set a Nov. 15 target to pin down binding agreements with each of the companies.
Mr. Lawson notes positive developments in the sector, including expanded investment tax perks, simplified regulatory reviews, a national-interest designation for a new West Coast pipeline and anticipated royalty incentives from Alberta.
He says: "We need to hammer out actually the trade-off for that, which is what our six-megatonne carbon capture project looks like. All the companies are aligned in hammering that out if we have all the supports in place. So it's all coming together. Nov. 15 is a pretty tight timeline to get all this stuff done, but we're working toward that."
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