Canadian Natural Resources and four Oil Sands Alliance members signed a memorandum of understanding with the Alberta and federal governments. This framework advances the Pathways carbon capture and storage (CCS) project.
The multi-billion dollar plan involves building a pipeline network to capture carbon dioxide from oilsands facilities. The project will permanently store emissions underground near Cold Lake, Alberta.
Total costs for the development range from C$20 billion to C$30 billion. The project aims to capture six million tonnes of CO2 annually. Operations are scheduled to begin by the mid-2030s.
Federal investment tax credits and provincial incentives will support the development. The deal facilitates the approval of a new West Coast oil pipeline by offsetting production emissions.
All parties expect to finalize definitive binding agreements by November 15, 2026.