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Shell (NYSE:SHEL) said Wednesday it made a final investment decision to build two carbon capture and storage projects in Canada, citing the projects as important steps in reducing emissions from its operations.
Shell (SHEL) said the Polaris carbon capture project at the Shell Energy and Chemicals Park in Alberta is designed to capture 650K metric tons/year of carbon dioxide from its Scotford refinery and chemicals complex.
The company also will proceed with the Atlas carbon storage hub in partnership with ATCO EnPower, with the project’s first phase expected to provide permanent underground storage for carbon dioxide captured by the Polaris project.
Shell (SHEL) hopes the projects will build on the success of the Quest CCS facility at Scotford, which has safely captured and stored more than 9M metric tons of carbon dioxide since 2015.
The company said it expects both Polaris and Atlas will begin operations near the end of 2028; financial details were not disclosed.