FX.co ★ Shell Canada Announces Final Investment Decision For Two Carbon Capture Projects In Canada

Shell Canada Products, a subsidiary of Shell plc (SHEL), announced on Wednesday the Final Investment Decision (FID) for Polaris, a carbon capture initiative at the Shell Energy and Chemicals Park in Scotford, Alberta, Canada.

The Polaris project aims to capture approximately 650,000 tonnes of CO2 annually from the Shell-owned Scotford refinery and chemicals complex.

In addition, Shell announced the FID for the Atlas Carbon Storage Hub, a collaboration with ATCO EnPower. The initial phase of the Atlas project will offer permanent underground storage for CO2 captured by Polaris.

Both projects are projected to commence operations by late 2028. Carbon capture and storage are essential technologies for meeting the climate goals outlined in the Paris Agreement.

Polaris and Atlas will further the success of the Quest carbon capture and storage (CCS) facility at Scotford, which has safely sequestered over nine million tonnes of CO2 since 2015, preventing it from being released into the atmosphere.