In a July 11th statement issued by the Department of Finance Canada, the Hounourable Chrystia Freeland, Canada’s Deputy Prime Minister and Minister of Finance shares support for Strathcona’s $2 billion carbon capture partnership with Canada Growth Fund. Funds invested will be used to develop carbon capture and sequestration infrastructure on Strathcona’s steam-assisted gravity drainage facilities across Saskatchewan and Alberta.
“This $2 billion partnership between our Canada Growth Fund and Strathcona Resources is proof that our economic plan is working—it is growing the economy, creating good-paying jobs, and keeping Canada on track to reach net-zero by 2050. This partnership, made possible by our Carbon Capture, Utilization, and Storage investment tax credit, will build one of the world’s lowest-emission oil facilities, ensuring Canada’s resource sector remains competitive for generations to come.”
The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
“The decarbonization of our resource sector is an enormous economic opportunity for Canada that businesses like Strathcona Resources recognize and are rapidly moving to seize on. As the world moves towards a low-carbon future, the Investment Tax Credits are helping to keep Canada’s resource sector and Canadian workers competitive. Since the tax credits were officially established just three weeks ago, we have seen companies act quickly to take advantage of them. These investments show the innovation of Canadian companies which will create jobs now and into the future.”
The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources
