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Alberta

Canadian energy company produces more energy and less green house gas emissions

Published

5 years ago

5 minute read

It would be interesting to know how many Albertans realize that Canadian energy companies are already producing less green house gas emissions.  Furthermore how many people know companies like Cenovus Energy have pledged and are already working toward incredibly aggressive emissions targets?   It’s true.  It’s already happening.   You can learn more about the Cenovus green house gas (ghg) emmissions strategy right here.

From Cenovus Energy 

Climate & greenhouse gas (GHG) emissions

Focus area
2030 targets
Climate & GHG emissions
  • Reduce emissions intensity by 30%(1)
  • Hold absolute emissions flat(1)
Ambition: In addition to our 2030 climate & GHG targets above,
Cenovus’s long-term ambition is to reach net zero emissions by 2050.

(1) Includes scope 1 and 2 emissions from operated facilities. Uses a 2019 baseline. For more details, see the Definitions section of our ESG targets news release.

At Cenovus, we recognize the growing concerns of people around the world about climate change and we share the goal of reducing GHG emissions.

Governments are supporting the transition to a lower-carbon future by introducing increasingly stringent climate-related policies and creating incentives for emissions-reduction solutions. We believe companies that fail to adapt to this transition will face growing carbon-related risks, while those that act now will position themselves for long-term business resilience. That’s why Cenovus is focused on demonstrating equally strong financial, operational, and environmental, social & governance (ESG) performance.

Cenovus is already one of the lowest emissions producers of oil in Canada with production emissions well below the global average. Building on this, our new GHG emissions targets are among the most ambitious in the world for an upstream exploration and production company.

30% GHG intensity reduction

We plan to reduce our per-barrel GHG emissions by 30% by the end of 2030, using a 2019 baseline, and hold our absolute emissions flat by the end of 2030. In setting our GHG targets, we worked comprehensively with global experts to stress test both the targets and our strategic options for achieving them. And we analyzed scenarios from third parties to assess the resiliency of our business as we further reduce our emissions intensity.

Our GHG emissions strategy includes a number of options to reach our targets. These opportunities are at various stages of development, and include: additional operational optimization, incorporating cogeneration capacity into future oil sands phases, more extensive deployment of solvent technology, further advancement of the methane emissions reduction initiatives already underway at our Deep Basin operations and additional operational efficiencies, including the use of data analytics. Cenovus is also considering other direct and indirect initiatives that generate credible, additional and permanent carbon offsets.

Net zero emissions by 2050

Cenovus’s long-term ambition is to reach net zero emissions by 2050. This is intended to address upstream (scope 1 and scope 2) emissions and will require ongoing focus on technology solutions beyond those that are commercial and economic today. We continue to identify opportunities to participate in longer-term solutions to address emissions from our operations and beyond. This includes extensive collaboration efforts with our peers, academics, other industries and entrepreneurs from around the world.

Air quality

We monitor ambient air quality at our operations to ensure that sulphur dioxide (SO2), hydrogen sulphide (H2S) and nitrogen oxides (NOx) concentrations remain within acceptable levels. To reduce air pollutants such as SO2 and NOx, as well as GHG emissions such as methane, we invest in technologies that help lower energy consumption in our day-to-day operations and processes.

We’ve already made significant progress in reducing methane emissions at Cenovus and we’re continuing to work on projects at our operations to further reduce emissions. Studies have shown that methane is a much more potent GHG than CO2, which means that reducing methane emissions is a critical part of any plan to address climate change.

Quick facts

  • Between 2004 and 2019, Cenovus reduced the CO2 emissions intensity of its oil sands operations by about 30%
  • NOx emissions at our Christina Lake oil sands facility are about 50% below the regulatory threshold of 400 tonnes per year
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After 15 years as a TV reporter with Global and CBC and as news director of RDTV in Red Deer, Duane set out on his own 2008 as a visual storyteller. During this period, he became fascinated with a burgeoning online world and how it could better serve local communities. This fascination led to Todayville, launched in 2016.

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Alberta

Energy sector will fuel Alberta economy and Canada’s exports for many years to come

Published on April 2, 2025

By

From the Fraser Institute

By Jock Finlayson

By any measure, Alberta is an energy powerhouse—within Canada, but also on a global scale. In 2023, it produced 85 per cent of Canada’s oil and three-fifths of the country’s natural gas. Most of Canada’s oil reserves are in Alberta, along with a majority of natural gas reserves. Alberta is the beating heart of the Canadian energy economy. And energy, in turn, accounts for one-quarter of Canada’s international exports.

Consider some key facts about the province’s energy landscape, as noted in the Alberta Energy Regulator’s (AER) 2023 annual report. Oil and natural gas production continued to rise (on a volume basis) in 2023, on the heels of steady increases over the preceding half decade. However, the dollar value of Alberta’s oil and gas production fell in 2023, as the surging prices recorded in 2022 following Russia’s invasion of Ukraine retreated. Capital spending in the province’s energy sector reached $30 billion in 2023, making it the leading driver of private-sector investment. And completion of the Trans Mountain pipeline expansion project has opened new offshore export avenues for Canada’s oil industry and should boost Alberta’s energy production and exports going forward.

In a world striving to address climate change, Alberta’s hydrocarbon-heavy energy sector faces challenges. At some point, the world may start to consume less oil and, later, less natural gas (in absolute terms). But such “peak” consumption hasn’t arrived yet, nor does it appear imminent. While the demand for certain refined petroleum products is trending down in some advanced economies, particularly in Europe, we should take a broader global perspective when assessing energy demand and supply trends.

Looking at the worldwide picture, Goldman Sachs’ 2024 global energy forecast predicts that “oil usage will increase through 2034” thanks to strong demand in emerging markets and growing production of petrochemicals that depend on oil as the principal feedstock. Global demand for natural gas (including LNG) will also continue to increase, particularly since natural gas is the least carbon-intensive fossil fuel and more of it is being traded in the form of liquefied natural gas (LNG).

Against this backdrop, there are reasons to be optimistic about the prospects for Alberta’s energy sector, particularly if the federal government dials back some of the economically destructive energy and climate policies adopted by the last government. According to the AER’s “base case” forecast, overall energy output will expand over the next 10 years. Oilsands output is projected to grow modestly; natural gas production will also rise, in part due to greater demand for Alberta’s upstream gas from LNG operators in British Columbia.

The AER’s forecast also points to a positive trajectory for capital spending across the province’s energy sector. The agency sees annual investment rising from almost $30 billion to $40 billion by 2033. Most of this takes place in the oil and gas industry, but “emerging” energy resources and projects aimed at climate mitigation are expected to represent a bigger slice of energy-related capital spending going forward.

Like many other oil and gas producing jurisdictions, Alberta must navigate the bumpy journey to a lower-carbon future. But the world is set to remain dependent on fossil fuels for decades to come. This suggests the energy sector will continue to underpin not only the Alberta economy but also Canada’s export portfolio for the foreseeable future.

Jock Finlayson

Senior Fellow, Fraser Institute
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Alberta

The beauty of economic corridors: Inside Alberta’s work to link products with new markets

Published on April 1, 2025

By

From the Canadian Energy Centre

Q&A with Devin Dreeshen, Minister of Transport and Economic Corridors

Devin Dreeshen, Alberta’s Minister of Transportation
and Economic Corridors.

CEC: How have recent developments impacted Alberta’s ability to expand trade routes and access new markets for energy and natural resources?

Dreeshen: With the U.S. trade dispute going on right now, it’s great to see that other provinces and the federal government are taking an interest in our east, west and northern trade routes, something that we in Alberta have been advocating for a long time.

We signed agreements with Saskatchewan and Manitoba to have an economic corridor to stretch across the prairies, as well as a recent agreement with the Northwest Territories to go north. With the leadership of Premier Danielle Smith, she’s been working on a BC, prairie and three northern territories economic corridor agreement with pretty much the entire western and northern block of Canada.

There has been a tremendous amount of work trying to get Alberta products to market and to make sure we can build big projects in Canada again.

CEC: Which infrastructure projects, whether pipeline, rail or port expansions, do you see as the most viable for improving Alberta’s global market access?

Dreeshen: We look at everything. Obviously, pipelines are the safest way to transport oil and gas, but also rail is part of the mix of getting over four million barrels per day to markets around the world.

The beauty of economic corridors is that it’s a swath of land that can have any type of utility in it, whether it be a roadway, railway, pipeline or a utility line. When you have all the environmental permits that are approved in a timely manner, and you have that designated swath of land, it politically de-risks any type of project.

CEC: A key focus of your ministry has been expanding trade corridors, including an agreement with Saskatchewan and Manitoba to explore access to Hudson’s Bay. Is there any interest from industry in developing this corridor further?

Dreeshen: There’s been lots of talk [about] Hudson Bay, a trade corridor with rail and port access. We’ve seen some improvements to go to Churchill, but also an interest in the Nelson River.

We’re starting to see more confidence in the private sector and industry wanting to build these projects. It’s great that governments can get together and work on a common goal to build things here in Canada.

CEC: What is your vision for Alberta’s future as a leader in global trade, and how do economic corridors fit into that strategy?

Dreeshen: Premier Smith has talked about C-69 being repealed by the federal government [and] the reversal of the West Coast tanker ban, which targets Alberta energy going west out of the Pacific.

There’s a lot of work that needs to be done on the federal side. Alberta has been doing a lot of the heavy lifting when it comes to economic corridors.

We’ve asked the federal government if they could develop an economic corridor agency. We want to make sure that the federal government can come to the table, work with provinces [and] work with First Nations across this country to make sure that we can see these projects being built again here in Canada.

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