As global demand for energy sources continues its ascent, Canada’s energy sector remains a key player. The country is witnessing advancements in emission reduction efforts, with a notable 24% decrease in emissions from “conventional” oil production between 2019 and 2021.
Alberta’s oil and gas producers are making significant strides in reducing methane emissions, achieving a 45% reduction from 2014 levels three years ahead of the 2025 target. Even in the oil sands, emissions did not increase in 2022 despite rising production, with expectations pointing towards a decline before 2025, as reported by S&P Global.
The Pathways Alliance, consisting of producers in the oil sands, seeks to attain net-zero emissions from its operations by 2050. This goal is backed by the implementation of one of the globe’s most substantial carbon capture and storage (CCS) projects, slated to be functional by 2030. With an investment of $1.8 billion, the alliance is actively pushing forward this initiative, underscoring its dedication to fostering sustainable practices within the energy sector.
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