Suncor, GE have announced $18 million in investment for projects meant to cut GHG emissions and water use in the oil sands.
CALGARY — The CEO of Suncor Energy says a technology-sharing alliance of oil sands players is very close to setting greenhouse gas reduction goals for its members.
Steve Williams says the Canadian Oil Sands Innovation Alliance (COSIA) is within “days or weeks” away from firming up the standards.
He says as a first step, it’s likely COSIA members will strive to be at least as efficient as other oil sources.
Earlier, Suncor and GE announced up to $18 million in investment for projects that are meant to cut greenhouse gas emissions and water use in the oil sands.
The companies say $5 million is going toward an existing water treatment pilot project at Suncor’s MacKay River project in northern Alberta and six COSIA members have signed a memorandum of understanding to spend up to another $13 million to develop new technologies.
Williams says Suncor spends about $200 million per year on research and development and that a substantial amount of that can be shared through COSIA.
© 2014 The Canadian Press