Recent advances in technology are enhancing our ability to significantly reduce emissions. Carbon capture and storage (CCS) technology - which involves capturing CO2 at the source and injecting it deeply underground into geological formations for permanent storage – is an important step in mitigating the effects of carbon fuels.
Spectra Energy's Western Canada operations has proven experience in small-scale CCS and is recognized as a world leader by the U.N. Intergovernmental Panel on Climate Change. Several of our existing facilities are equipped with technology and equipment to separate CO2 and inject and permanently store it underground. On average, these facilities remove and store over 140,000 metric tons of carbon dioxide each year, totaling more than 900,000 metric tons since 2007.
Currently, the company is assessing the technical, geological and economic feasibility of developing a world-scale CCS project in Fort Nelson, British Columbia. While a significant investment and complex undertaking, it holds the promise of capturing and storing two million metric tons of CO2, the equivalent of taking 500,000 cars off the road annually.
During 2012 we advanced the geological and technical feasibility analyses leading to greater clarity regarding the project’s feasibility, and continue to pursue a number of avenues for commercializing the project with participation from government and the private sector. We also raised awareness for the project within the province of British Columbia.
Our next steps are to continue discussions with the B.C. Ministry of Energy to obtain land tenure and continue analyses and testing to confirm the technical feasibility and commercial viability of the project. We see the potential to have this project in service by mid-2018.