CALGARY — Shell Canada is going ahead with its Polaris carbon capture project in Alberta.
The company — the Canadian subsidiary of British multinational Shell PLC — announced Wednesday it has made a positive final investment decision on the project, which is designed to capture about 650,000 tonnes of carbon dioxide annually from the Shell-owned Scotford refinery and chemicals complex near Edmonton.
"It's a very good day, it's an exciting day for us," said Shell Canada president Susannah Pierce in an interview. Polaris is Shell's second carbon capture and storage project in Canada. Its first, named Quest, was completed in late 2015 and is also located at the Scotford complex. That tax credit was first announced in 2022, but its recent finalization means that companies can now apply for and claim the credit to offset the capital costs of building carbon capture facilities.There has been a flurry of carbon capture and proposals in Canada in recent years, though few have received a final investment decision.
The largest proposed carbon capture project in Canada, a $16.5-billion proposal by a group of oilsands companies called the Pathways Alliance, has yet to receive a final investment decision.
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