Shell’s Post

Carbon capture is quickly maturing into a key element on the fight against global warming. And as technology continues to advance at such a high pace, it requires a much more aggressive strategy and leaders with an appetite for risk to navigate this ever changing landscape. What's your role and where do you see yourself making an impact?

The government will need to have a good hard look at the secretive "Nature Positive Plan" in the pipeline which seriously threatens Australia’s mining and related industries. Whilst I would advocate for a careful and considerate approach to nature and biodiversity, this must be tempered by common sense. If not, these industries which have been the backbone of our economy will choose to spend their money in other countries resulting in countless job losses and significant depletion of funds to government. Everyone loses. This new environmental legislation has involved little consultation with industry and the details have not been publicly released for feedback.   It will also impact new infrastructure such as roads, railways, dams, airstrips, and new tourist facilities, and new facilities in rural areas such as hospitals, churches, sporting facilities and hotels, all of which would require more clearing for new parking as well as impacting new emergency facilities for those facing floods or fires.   It is of great importance to see where these expanded endangered or threatened species areas will be!

https://lnkd.in/ec_PWtj5 It looks like government grants or tax credits has helped Shell to invest in inefficient and expensive CCS in Canada. Earlier this spring, Edmonton-based Capital Power Corp. cancelled plans for its proposed $2.4-billion carbon capture and storage project at its Genesee natural gas-fired power plant. Capital Power said while the project was technically feasible, the economics didn't work. It is much better not to produce that CO2 emissions in the first place. CCS may promote business as usual without significant benefits to the environment but huge costs to the taxpayers. #ccs #shell #Canada #CO2

Carbon Capture & Sequestration — Smoke & Mirrors, Charade or a Symptomatic Cure at Best, but using OUR Money & OUR Resources?⚠️ 💨 🪞 ⛔️⚠️ Globe & Mail - Amanda Stephenson: Shell says it’s going ahead with Canadian CCS projects. Shell Canada is going ahead with its Polaris carbon capture project in Alberta. 
The company, the Canadian subsidiary of British multinational Shell PLC, announced Wednesday it has made a positive final investment decision on the project, which is designed to capture up to 650,000 tonnes of carbon dioxide annually from the Shell-owned Scotford refinery and chemicals complex near Edmonton. 
That works out to approximately 40% of Scotford’s direct CO2 emissions from the refinery & 22% of its emissions from the chemicals complex. 
Shell did not disclose the dollar value of the Polaris project, but said it is expected to begin operations toward the end of 2028. 
“It’s a very good day, it’s an exciting day for us,” said Shell Canada president Susannah Pierce in an interview. 
“Certainly for me as country chair of Canada, it’s great to see this capital investment from Shell in Canada. Because as you know, I compete for capital in my portfolio, and I’m pleased that Shell has decided to put it here.”

Shell also said Wednesday it will proceed with the related Atlas Carbon Storage Hub in partnership with ATCO EnPower. The first phase of Atlas, which will be connected to the Polaris project by a 22-kilometre pipeline, will provide permanent underground storage for CO2 captured by Polaris. 
Polaris is Shell’s second carbon capture and storage project in Canada. Its first, named Quest, was completed in late 2015 and is also located at the Scotford complex. 
That project – which cost $1.3 billion to build – has captured and stored about nine million tonnes of CO2 from the Scotford upgrader since 2015, Shell said. 
Shell’s decision to green light the Polaris project comes just days after a new federal investment tax credit for carbon capture and storage received royal assent.

That tax credit was first announced in 2022, but its finalization means that companies can now apply for and claim the credit to offset the capital costs of building carbon capture facilities.
“That was a critical component of the (Polaris) decision,” Pierce said. 
There has been a flurry of carbon capture proposals in Canada in recent years, though few have received a final investment decision. 
Carbon capture and storage, which involves capturing and compressing harmful CO2 emissions from industrial processes and then storing them safely underground, is viewed by many as the best way of decarbonizing heavy-polluting industries such as oil and gas and cement production. 
But the technology is very expensive and corporations have proved reticent to invest in it without significant support from governments.

Years from now the energy transition (decarbonization and electrification) will be viewed as a historically significant revolution that altered what/how we produce, transmit, store and consume energy to power our world. More great intel being shared by Alex Chapman and the www.RidgeCreekGlobal.com team.

💡 Major Investment Alert! Canadian Oil Sands to Pour $12.03 Billion into Decarbonization Project! 💰💰💰🌱 In a groundbreaking move, Canadian oil sands producers are set to make final investment decisions on their substantial C$16.5 billion ($12.03 billion) carbon capture and storage (CCS) project starting mid-2025. 🚀 The Pathways Alliance, representing the six largest oil sands companies, aims to establish a CCS hub to store emissions from 14 projects in northern Alberta. With oil sands contributing over 10% of Canada's total emissions, this massive investment is a pivotal step in the industry's mission to decarbonize. 🌍🔗 . . 🌍 Investing in Africa's Energy Future: As global energy dynamics evolve, investors exploring opportunities in the African oil and gas market stand to gain significant advantages. With abundant resources, increasing demand, and strategic positioning, the African continent offers a lucrative investment destination for those seeking long-term growth. 🚀🌍💰 Stay tuned for further developments as the energy landscape continues to transform! 🌐🔍 The future of energy is changing - it could be powered by oil and gas. Are you ready for the transformation? 💪⚡ Megathos Law Practice open to all your business requests. 😊 Please reach out to us via the contact form of www.megathoslaw.com  . . . Megathos Law Practice  #megathoslawpractice #Lawyers #Lagos #Nigeria #Africa #EnergyInfrastructure #LNGGrant #grant #LNG #LiquefiedNaturalGas #NaturalGas #EnergyTransition #CleanEnergy #SustainableFuel #LNGTerminal #EnergyInfrastructure #GlobalEnergy #RenewableEnergy #EnergySecurity #GreenTech #EnergyInvestment #FutureOfEnergy #EnergyEfficiency #LNGIndustry #EcoFriendlyFuel #CleanEnergies #EnergyInnovation #NaturalGasHub #EnergyMarkets #FuelingTheFuture #LNGProjects #EnergyDevelopment #InvestInLNG #CleanEnergySolutions 🚢🛢️🌐

Yesterday, Gibson Energy announced that it has received a carbon price backstop contract for its landfill waste to energy and carbon capture and storage (CCS) project through the Canada Growth Fund (CGF). The commitment is for 200,000 tpa of carbon credits at $85/tonne for 15 years, very similar to the first CGF contract with Entropy Inc last December, 185,000 tpa at $86.50/tonne for 15 years. It's great to see the Government of Canada commit to long term carbon offtake agreements, which are necessary to secure project financing. https://lnkd.in/gbkBJWhx #CCS #CCUS #BECCS #biomass #energy #canada #alberta #carboncapture #carbonstorage #subsurfaceinnovation #energytransition

Timor-Leste gets APAC one step closer to a sustainable future! 🌱 TIMOR GAP, E.P. Timor-Leste's national oil company has signed an MOU with Australian giant Santos Ltd to explore partnership opportunities for the Bayu-Undan carbon capture and storage (CCS) project offshore Timor-Leste. 💼 The timing of this MOU aligns with the rising regional demand for CO2 storage, with potential supply reaching more than 10 million tonnes per annum. This opens the door for exciting new opportunities and equity participation for TIMOR GAP in the CCS project. 🌏 Positioned to provide carbon management services in the Asia Pacific region, Bayu-Undan CCS aims to support Australia, Japan, Korea, and other Asian countries in their decarbonization efforts. With well-understood storage reservoirs and existing infrastructure, Bayu-Undan CCS promises to be a cost-competitive and safe solution. It can significantly reduce emissions from gas and LNG projects and offer abated gas as a premium product in a low-carbon world. Santos' three-hub CCS strategy, including the Moomba CCS project, demonstrates their commitment to climate goals and advancing sustainable energy practices. You can see the full article via the link in the comments. #Sustainability #CarbonCapture #EnergyEvolution #Collaboration #EnergySector #TimorLeste #Business

Canada's on fire, so what should the strategic business response be? Well, here's a case study: On how *not* to develop a resilient business strategy, based on net-zero emissions, net positive impacts and long-term value. Otherwise known as the road to climate crisis, ecosystem collapse, stranded assets and economic ruin. A pivot to destructive short-termism: "New CEO of Suncor, Canada’s second-largest energy company, let shareholders know earlier this week that the transition to clean energy can take a backseat to the primary prerogative of *juicing billions in short-term profits* for shareholders from the oil sands." A simple choice: Be part of the problem, or part of the solution? "Focus on fundamentals, juice profits to the max and give the money to shareholders as the company disappears into the sunset, or it can leverage its various forms of capital to plow (plough) these proceeds from old energy into the new energy that will dominate the near future, reinventing itself to own and thrive in the low- carbon future." Missing the big picture crisis and the opportunity: "With Big Oil incumbents bailing on clean energy, it will be up to other sectors and entrepreneurs to accelerate the energy transition and reap the rewards of leading the low- carbon economy, one that’s already rivalling – and will soon dwarf – fossil fuels."  THE question for a mindful shareholder: If Ørsted can manage the great energy transformation and deliver great business results, why is it such a problem for Suncor? HT As ever, great insight from Toby Heaps.