Carbon Capture
Focused on energy
Bighorn Energy is unique in that it operates a large depleting (close to empty) gas reservoir close to Calgary that is ideal for CO2 sequestration providing decades of CO2 storage. Bighorn Energy’s reservoir provides a preferential and ready answer to initiate this transition.
We believe that our reservoir may be useful to Calgary’s Carbon Capture Utilization and Storage (CCUS) Hub initiatives to meaningfully reduce its carbon footprint in a cost-efficient manner that recognizes the advantage of its significant volume in a way that qualifies as an Alberta-based environmental solution.
Carbon Capture Utilization and Storage
is considered a key tool in mitigating climate change by reducing the amount of CO2 released into the atmosphere.
Impact
Social and Environment
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In addition to potential reputational and other indirect costs, jurisdictions world-wide have moved toward enacting legislation to force the reduction of carbon emissions into the atmosphere.
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The sentiment and urgency to reduce emissions is high, not only in Canada, but throughout the world.
Enacted Legislation
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Due to the Supreme Court of Canada ruling on March 24, 2021, Alberta must follow federal carbon tax pricing legislation.
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Existing legislation has set an escalation of the Federal Fuel Charge currently at $40 per tonne and escalating to $50 per tonne in 2022.
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In other countries, court rulings have forced significant emitters to actively reduce emissions in their operations.
Economic Motivation
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Projections released by the federal government cites raising the Federal Fuel Charge by $15 per tonne each year from 2023 to 2030, a 325% increase in the tax from 2021 levels.
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Emerging market for Carbon Credits exists with in Alberta with the potential to be transacted Nationally and Internationally.
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Carbon utilization opportunities maybe available in the future to use stores of CO2.
Key Benefits
Climate Change Mitigation
CCUS plays a crucial role in mitigating climate change by reducing the amount of CO2 emitted into the atmosphere. By capturing and either utilizing or storing CO2, it helps to lower greenhouse gas concentrations, addressing one of the key drivers of climate change.
Maintain Energy Security
As the world transitions to cleaner energy sources, CCUS can provide a bridge by allowing the continued use of fossil fuels in a more environmentally responsible way. This can be particularly important for regions heavily dependent on fossil fuels for energy.
Meeting Emission Targets
CCUS can contribute to meeting emission reduction targets set by governments and international agreements. It provides a practical solution to address emissions from sectors that are challenging to decarbonize completely.
Industrial
Decarbonation
Many industrial processes currently rely on fossil fuels and are significant sources of CO2 emissions. CCUS offers a way to decarbonize these processes, allowing industries to continue operating while reducing their carbon footprint.
Crossfield Reservoir
Bighorn Energy will soon begin producing fuel-cell grade green hydrogen at our generation plant in Crossfield, Alberta.
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Social and Economic Catalysts
Environmental & Social Responsibility
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Stakeholders – Industry, Indigenous, Government, Public
Economics
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Capital and development timeline.
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CO2 tax
Opportunity
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Bighorn Energy’s Crossfield reservoir has the potential to sequester approximately 55 million tonnes of CO2.
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Bighorn Energy is actively pursuing additional reservoirs that may become available for sequestration in the distant future.
Reservoir Attributes
Our reservoir offers immediate, safe, long-term carbon removal options.
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Long Term High Capacity at 1.1 Tcf (55 million tons CO2)
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Close Proximity to Calgary’s Large Emitters
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Near Term Availability
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Safe Deep Reservoir with Proven Containment (not a Saline Aquifer)
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Low Environmental Footprint Utilizes Existing Infrastructure
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Permanent CO2 Storage (not Enhanced Recovery / CO2 Recycling)
