UPDATE 1-Canada's Suncor and ATCO to develop country's largest hydrogen project in Alberta
Reuters
3 days ago
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By Nia Williams and Rithika Krishna
CALGARY, Alberta, May 11 (Reuters) - Canada's Suncor Energy will partner with utility ATCO Ltd to develop a clean hydrogen project near Fort Saskatchewan, Alberta, in one of the most significant steps taken by an oil sands producer to cut greenhouse gas emissions.
Canada's cash-rich oil sands firms are facing mounting pressure to spend on transitioning towards cleaner energy at a time when Prime Minister Justin Trudeau has pledged to cut carbon emissions 45% below 2005 levels by 2030.
Suncor and ATCO expect to make a sanctioning decision in 2024 and, if finalized, the project could be operational by 2028.