Policy status:In Force
Date Effective:2003
Policy Type:Economic Instruments>Fiscal/financial incentives
Policy Target:
Funding:Up to $15 million in credit over five years from Alberta Energy Ministry
Description:The Alberta Ministry of Energy announced a maximum of $15 million provided over five years in the form of royalty credits to offset up to 30% of companies approved costs in approved carbon dioxide projects. Current production methods recover approximately 30% of conventional oil and 70% of conventional gas. By injecting carbon dioxide into a mature producing well, producers can potentially increase their recovery percentage while at the same time reducing carbon dioxide emissions through geological storage.

Last modified: Fri, 13 Jul 2012 17:28:01 CEST