Japan’s Sumitomo to acquire interest in Alberta CCS hub
SUMMARY
East Calgary Carbon Transportation & Sequestration hub could store 3mn tonnes/year of CO2.
By Dale LunanPOSTED IN:
Reconciliation Energy Transition Inc (RETI) said October 24 Sumitomo’s North American subsidiary has been granted exclusive rights to acquire a “significant equity interest” in its East Calgary Carbon Transportation & Sequestration (CTS) hub project.
RETI did not specify the size of the equity interest nor its value.
The CTS hub was one of 19 projects submitted as part of Alberta’s second request for project proposals to develop carbon capture and storage (CCS) hubs around the province. CTS would target sequestration of 3mn tonnes/year of CO2 in deep saline aquifers east of Calgary.
Like other projects put forward, RETI is now in the evaluation phase of the process to demonstrate the potential to safely store CO2. When that process is complete, successful projects will be invited to apply for CO2 injection rights.
