Enbridge CEO hopes for more carbon capture support in upcoming federal budget
CALGARY — The CEO of energy infrastructure giant Enbridge Inc. says he hopes the federal government will unveil more incentives for carbon capture and storage in the upcoming federal budget.
Greg Ebel says the U.S. is currently a more attractive place for companies seeking to invest in carbon capture technology.
He says the Inflation Reduction Act in the U.S. offers incentives that reduce the capital costs as well as on ongoing operating costs for carbon capture.
Canada's energy industry has identified carbon capture and storage as key to its plan to reduce greenhouse gas emissions.
Companies have proposed approximately 25 different projects aiming to capture carbon from Alberta's oil and gas sector.
Among these is Enbridge's Open Access Wabamun Carbon Hub to be located northwest of Edmonton.
This report by The Canadian Press was first published March 1, 2023.
Companies in this story: (TSX:ENB)
The Canadian Press