Carbon Capture and Storage Projects Funding Agreements
The sharing of these consolidated, unofficial copies of the agreements that have been signed for carbon capture and storage projects in Alberta is part of the ongoing effort to provide information about carbon capture and storage projects and their development. The agreements are posted for information purposes only and shall not be reproduced in any manner, in whole or in part, except with the prior written consent of the Alberta Government and the appropriate project.
The agreements are legal documents and are separated into a number of sections that cover a range of complex issues that may or may not arise through the course of project development, deployment, and operation.
The agreements are based on the carbon capture and storage program’s principles, which were laid out in the
2008 Full Project Proposal. The goal of the project selection process, which was completed in 2009, was to encourage the development of integrated carbon capture and storage facilities that will capture and permanently store up to five million tonnes of carbon dioxide per year in 2015.
Alberta Carbon Trunk Line Project Funding Agreement
Alberta Carbon Trunk Line Knowledge Sharing Schedule
The following funding principles are reflected in the agreements:
- The percentage of funding provided by all government bodies (provincial and federal) will be limited to a maximum of 75% of total incremental carbon capture and storage costs.
- Funds disbursed prior to
commencementof operations will be limited to a maximum of 40% of the total approved funding for the project and will be paid on specific project milestones.
- A maximum of 20% of the total approved funding for the project will be paid on commencement of operations.
- The remaining approved funding (at least 40%) will be disbursed as CO2 is captured and sequestered, over a maximum period of 10 years.