Sumitomo, RETI Ink Agreement for CCS Hub in Calgary [Yahoo! Finance]
SUMITOMO CORP S/ADR (SSUMY)
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Source: Yahoo! Finance
Reconciliation Energy Transition Inc. (RETI) are partnering for carbon capture and storage (CCS) in Canada. The two parties have entered into a joint development agreement for the RETI East Calgary Region Carbon Transportation & Sequestration Hub project (CTS Hub) east of Calgary, Alberta. The RETI East Calgary Region Transportation & Sequestration Hub LP, a limited partnership established for the purpose of conducting project-related activities, is also a signee of the agreement. Sumitomo said in a news release that terms have been finalized for it to acquire a “significant” equity interest in the CTS Hub. The CTS Hub Project intends to progress the front-end engineering and design (FEED) study as soon as possible, targeting first CCS operations in 2026. The CTS Hub will involve construction of compression capacity, a carbon dioxide (CO2) pipeline network, and injection and monitoring wells to support permanent CCS in deep saline aquifers located east of Calgary, with the p
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