Quebec Introduces Bill 17 to Establish Legal Framework for Carbon Storage Supported by Deep Sky
Deep Sky supports Quebec's introduction of Bill 17, which creates a legal framework for carbon storage. The bill aims to establish a regulatory structure for underground reservoirs and pipelines, enabling permanent carbon removal to help meet net-zero targets. It facilitates investments and allows project developers to generate carbon credits. Deep Sky's projects in Thetford Mines and Bécancour aim to create thousands of jobs and significant economic benefits while achieving a capacity to remove over 500,000 tonnes of CO2 annually.
Theia Market Signal Identification - AI Assisted
Deep Sky welcomes Quebec's Bill 17, which provides a legal framework for carbon storage to support the province's net-zero goals. The bill allows for the development of geological storage solutions and enables project developers to access federal tax credits for carbon capture, covering significant investment costs.
Deep Sky is developing projects in Thetford Mines and Bécancour, with the Thetford project alone representing over $2 billion in investment and the potential to create up to 12,000 jobs. Quebec has substantial geological storage capacity, positioning it as a leader in carbon removal. The bill aims to fill the regulatory gap that has previously hindered carbon removal efforts in the province.
Comments