Latest market news

Sumitomo, Reti to develop CCS project in Canada

  • : Emissions
  • 24/05/24

Japanese trading house Sumitomo and Canadian low-carbon energy developer Reconciliation Energy Transition (Reti) have agreed to jointly develop a carbon capture and storage (CCS) project in Alberta, Canada.

The firms are targeting to start operations in the April 2026-March 2027 fiscal year and store up to 10mn t/yr of CO2 in east Calgary of Alberta. The project is expected to involve building compression capacity, a CO2 pipeline network, as well as injection and monitoring wells to support permanent CCS in deep saline aquifers.

The project is currently only looking at CO2 emitted by Canadian firms, and not considering CO2 exports from Japan, Sumitomo told Argus. Sumitomo will mainly take on the role of seeking Japanese partners and arranging financing for the project.

The project also envisions injecting CO2 captured from potential sustainable aviation fuel and direct air capture projects in the Calgary region, which are currently under feasibility studies by Sumitomo and Reti.

Fellow Japanese trading house Marubeni is also participating in developing a CCS project in Alberta with Canadian private-sector firm Bison Low Carbon Ventures. Bison is developing the Meadowbrook CCS project near Edmonton and targeting a CO2 storage capacity of 3mn t/yr.

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more