Canadian governments dish out $876 million for Shell’s oil sands carbon capture project
Royal Dutch Shell (NYSE: RDS.A) will receive C$876 million from both the Canadian federal government and also the Alberta provincial government for its Quest carbon capture and storage project at the company's Scotford Upgrader plant in the Alberta oil sands.
Shell's Quest project would represent the first oil sands operation to sequester carbon from its upgrading facility. The funding will be dispersed over a 15 year period, with the majority, C$745 million, coming from Alberta's provincial government.