en.Wedoany.com Reported - The Canadian federal government has signed a tripartite memorandum of understanding (MOU) with the Pathways Alliance, planning to accelerate oil sands production growth through regulatory reforms and fiscal measures, and to bring products to new markets, including a proposed west coast oil pipeline.

The MOU clarifies the ongoing commitments of both governments: ensuring that their respective policies and fiscal frameworks effectively support oil sands production growth; streamlining the regulatory framework to improve efficiency; and supporting the policy and fiscal framework for the development of the proposed Pathways carbon capture and storage (CCS) project.

Advancing the proposed Pathways project as outlined in the MOU requires the signing of a final agreement and obtaining regulatory approvals. Once operational, the Pathways project is expected to have the capacity to safely transport and store approximately 6 million tonnes per year of captured CO₂ from multiple oil sands facilities by the mid-2030s, delivering it to a hub in the Cold Lake region for permanent underground storage. The alliance will also achieve additional emission reduction targets in subsequent years by leveraging the Pathways project, deploying other emission reduction technologies, or adopting projects that improve production practices.

Kendall Dilling, President of the Pathways Alliance, stated that the framework is beneficial to the oil sands industry and represents a step forward in driving production growth and advancing the Pathways project, helping to realize the shared vision of increasing Canadian oil production and benefiting Canadians across the country. Alliance members will continue to work with provincial and federal governments to ensure Canada remains a competitive destination for energy investment.