Marubeni and Bison Low Carbon Ventures to Develop Canadian CCS Project
[Click image to enlarge]
[Click image to enlarge]
Marubeni Corporation has entered into a share subscription agreement with Bison Low Carbon Ventures, to facilitate development of Bison’s carbon capture and storage (CCS) projects in Alberta, Canada.
The Meadowbrook CCS Project, one of the projects being developed by Bison, is located near Edmonton, Alberta, and aims to develop a world-scale storage operation of three million tons of CO2 per annum.
Detailed geological evaluation work such as drilling, as well as further detailed formation evaluation, will start the second half of 2023, with plans to commence storage operations starting from the end of 2024 and expanding to full capacity as market demand for sequestration services develop.
The project is expected to transport and store CO2 emitted from the Alberta Industrial Heartland Area and industries within its proximity, thus contributing to Canada and Alberta’s 2050 carbon neutrality goal and to the creation of new industries such as blue hydrogen and blue ammonia production.
Through its relationship with Bison, Marubeni will also have the opportunity to invest in the North Drumheller CCS Project and other Bison-developed energy transition initiatives.
Marubeni released its GC2024 mid-term management strategy in February 2022, under which it aims to become a forerunner in green business. CCS is a critical technology for achieving carbon neutrality worldwide, and Marubeni will contribute to the decarbonization of hard-to-abate industries utilizing the insights gained through its CCS projects, including Meadowbrook and the CTSCo CCS project in Queensland, Australia.
Marubeni Corporation is a trading company with business divisions in iron and steel, information technology, utility and infrastructure, energy, food, metals and mineral resources, development and construction, industrial machinery, and chemicals. The company markets its products globally through a network of sales offices and representative firms.
Bison Low Carbon Ventures (BLVC) is an Alberta based private corporation established in 2020 to develop and operate state of the art storage facilities in western Canada and selectively promote natural gas participation along the accelerating energy transition. The three BLCV principals have combined 120 years of executive and technical experience in the upstream oil and gas industry in western Canada, South America, North Africa and the North Sea including the project planning, initiation, development and production operations associated with over 500 facilities and 1000 wells including applications targeting conventional, unconventional MSHF, SAGD, offshore and subsea, sour gas, and acid gas injection operations. Bison principals have a successful track record in the founding, financing, growth and sale of 8 public oil and gas companies over the last 30+ years.
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2023 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
