Canada’s Advantage Energy targets net zero by 2025
Canadian Montney producer Advantage Energy said November 18 it would leverage its deployment of modular carbon capture and storage (CCS) technology to reach net-zero in its Scope 1 and Scope 2 emissions as early as 2025.
“We plan to achieve this target using our state-of-the-art CCS project at the Glacier gas plant and by developing further third-party CCS projects through Advantage’s subsidiary, Entropy,” the company said. “Success in achieving net-zero on this timeline is predicated on functional CCS regulatory frameworks at both the federal and provincial levels.”
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The ambitious net-zero target is spelled out in Advantage’s 2021 sustainability report, which highlights the company’s overall carbon intensity of 0.017 mtCO2e/barrel of oil equivalent (boe) and “insignificant” fugitive, vented and flared emissions.
Deploying CCS technology at the 400mn ft3/day Glacier gas plant will reduce Scope 1 & 2 emissions by 20% starting in Q2 2022 when Phase I is commissioned, and by a further 40% by mid-2023, when Phase II is completed, the report says. Ultimately, CCS at Glacier will capture and sequester about 183,000 mt/year of CO2.
The modular CCS technology that Entropy is working to deploy with other emitters is commercially profitable at CO2 prices below C$50/mt and can capture as much as 90% of carbon emissions. It can be retrofitted to existing high-emissions facilities as well as in all point-source facilities with emissions as low as 8,000 mtCO2/year.