Carbon Transportation & Storage Study - Advisor(S) Engagement Tender, Canada - 99065239

Procurement Summary

Country : Canada

Summary : Carbon Transportation & Storage Study - Advisor(S) Engagement

Deadline : 16 Apr 2024

Other Information

Notice Type : Tender

TOT Ref.No.: 99065239

Document Ref. No. : 2024-01

Financier : Self Financed

Purchaser Ownership : Public

Tender Value : Refer Document

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Tender Details

Canada has set emission reduction targets of 40-45% below 2005 levels by 2030, followed by net zero by 2050. Deployment of carbon capture, utilization and storage (“CCUS”) is considered a necessity to meet these targets, helping to enable six key pathways towards a net-zero economy in Canada: (1) decarbonizing heavy industries, (2) low-carbon dispatchable power, (3) negative emissions technologies (NETs), (4) low-carbon hydrogen production, (5) CO2 based industries, and (6) cleaner oil and gas.The Government of Canada has taken action to develop and incentivize CCUS in Canada, allocating $319 M in Budget 2021 towards CCUS RD&D. Budget 2022 also announced the details of an Investment Tax Credit for CCUS, which offers up to a 50% refundable tax credit for CO2 capture projects and up to a 60% refundable tax credit for direct air capture projects. Despite this support - and the important role that CCUS plays in decarbonization - CCUS technologies are still nascent, with significant uncertainty surrounding the cost of deployment and the variation in costs across technologies, regions and sectors, ultimately leading to a slow market uptake. Accurate cost estimates of CO2 transportation and storage operations can drastically improve adopter confidence and help identify operations that would benefit most from public support to better enable strategic and cost-efficient deployment.To this end, the CIB and Natural Resources Canada (“NRCan”), the federal department responsible for devel...
Solicitation Type : RFP - Request for Proposal (Formal)
Reference Number : 0000266596
Location : Canada, All of Canada, All of Canada
Delivery Point : All of Canada
Description : Canada has set emission reduction targets of 40-45% below 2005 levels by 2030, followed by net zero by 2050. Deployment of carbon capture, utilization and storage (“CCUS”) is considered a necessity to meet these targets, helping to enable six key pathways towards a net-zero economy in Canada: (1) decarbonizing heavy industries, (2) low-carbon dispatchable power, (3) negative emissions technologies (NETs), (4) low-carbon hydrogen production, (5) CO2 based industries, and (6) cleaner oil and gas.The Government of Canada has taken action to develop and incentivize CCUS in Canada, allocating $319 M in Budget 2021 towards CCUS RD&D. Budget 2022 also announced the details of an Investment Tax Credit for CCUS, which offers up to a 50% refundable tax credit for CO2 capture projects and up to a 60% refundable tax credit for direct air capture projects. Despite this support – and the important role that CCUS plays in decarbonization - CCUS technologies are still nascent, with significant uncertainty surrounding the cost of deployment and the variation in costs across technologies, regions and sectors, ultimately leading to a slow market uptake. Accurate cost estimates of CO2 transportation and storage operations can drastically improve adopter confidence and help identify operations that woul...

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