Canada’s energy minister, Tim Hodgson, has expressed confidence that oil firms can cover the costs of carbon capture initiatives, according to a Bloomberg report.
This comes as Alberta moves forward with a key agreement on industrial carbon pricing, which is seen as a major step in facilitating new pipeline infrastructure projects.
The IEA has emphasized the need for coordinated action to ensure long-term sustainability and competitiveness in the energy sector.
The energy market has been closely watching developments in carbon pricing and regulatory frameworks, as they directly impact the feasibility of new projects and the broader energy transition.
The minister’s remarks suggest a growing alignment between industry capabilities and policy goals, potentially reducing uncertainty for investors and developers.
This development follows recent calls from the International Energy Agency (IEA) for Canada to leverage its position in the global energy transition.
The IEA has emphasized the need for coordinated action to ensure long-term sustainability and competitiveness in the energy sector.