As energy companies await the details on Ottawa’s planned carbon capture investment tax credit, the president of Shell Canada Ltd.
Susannah Pierce took the helm of Shell Canada last year, as the oil and gas sector tried to regain its footing after decimated demand caused by the COVID-19 pandemic.
The International Energy Agency, a Paris-based organization that advises industrialized countries on energy policy, also says CCUS will play a crucial role in global emissions reduction.
A recent report by Shell China emphasized the importance of the technology, including a goal to scale up CCUS capacity by more than 400-fold over the next four decades.
A recent report by Global Witness, a Britain-based environmental group, called into question just how well Quest is working.
The oil and gas sector asserts that CCUS is key in reducing its emissions, but critics say an investment tax credit amounts to nothing more than a subsidy for the sector.