Strathcona Resources Unveils $2 Billion Carbon Capture Initiative

Partnership with Canada Growth Fund aims to significantly reduce emissions from oil-sands operations.

Strathcona Resources plans to invest up to $2 billion in carbon capture and sequestration projects across its oil-sands facilities.
The Canada Growth Fund will contribute up to $1 billion, with an initial commitment of $500 million.
The initiative aims to capture up to two million tonnes of CO2 annually, mitigating substantial carbon tax liabilities.
Strathcona's projects are uniquely positioned due to local CO2 storage reservoirs, reducing the need for transportation.
The company expects its first project to reach final investment decision by mid-2025, with operations starting a year later.