Date: 27-Mar-09
Country: CANADA
Author: Scott Haggett
CALGARY - Eight carbon capture and storage projects in Western Canada will share C$140 million ($114 million) in funding from the Canadian government, Natural Resources Minister Lisa Raitt said on Thursday.
The projects, whose backers include TransCanada Corp Spectra Energy, TransAlta Corp, Husky Energy Inc, Enbridge Inc and others, will cut emissions of carbon dioxide from electricity and oil and gas production
The eight proposals are early stage projects that will reduce emissions into the atmosphere and store the carbon dioxide underground or put it to use in other industries.
"Canada's tremendous reserves of energy will remain an important source of economic strength for a long time to come," Raitt said in a statement. "The major challenge we face today comes from identifying and implementing cleaner ways to produce and consume that energy.
Canada's minority Conservative government is looking to burnish the country's environmental record as it seeks an accord on greenhouse gas reduction measures with the Obama administration in the United States.
The government's funding is part of a C$230 million set aside in 2007 to develop technologies that cut emissions from energy production.
Canada is offering the projects between C$3 million and C$30 million each in funding.
($1=$1.23 Canadian)
(Editing by Frank McGurty)
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