New Funding Opportunities for Methane Reductions: Canada

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New Funding Opportunities for Methane Reductions: Canada

In this article

The Highwood Bulletin is our way of sharing what we learn. We publish regular updates on emissions management news, novel research, and special insights from our team of experts and our partners.

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Today’s issue of the Highwood Bulletin features new federal funding opportunities for Canadian oil and gas companies looking to cost-effectively reduce their methane emissions. For information about the recently announced MTIP and IEE Government of Alberta programs, check out this previous issue of the bulletin.

NRCan's Emission Reduction Fund

Announced on October 23rd, NRCan’s Emission Reduction Fund delivers re-payable and partially repayable funding for all upstream and midstream Oil and Gas companies in Canada to reduce or eliminate methane emissions. The federal initiative offers $750M and companies can apply for between $100K and $20M for up to 75% of eligible project costs, with stacking of other funds up to 90%.

 

Applications are open for the month of November and companies can submit only one proposal for multiple projects. Additional relevant details include:

  • Projects require a baseline opportunity assessment to identify reduction opportunities

  • $675M is available for onshore assets and $75M is available for offshore assets

  • Methane reduction efforts are eligible for fully repayable loans. Methane elimination efforts are eligible for partially repayable loans

  • Non-repayable portions of project funding cannot be used to generate carbon credits

CRIN Receives $100 million

The federal government of Canada will provide the Clean Resource Innovation network with $100 million to conduct research that leads to the reduction of GHG emissions. About $80 million has already been committed to projects that will create alternative value-added products, reduce environmental footprints, and explore new digital solutions for the oilpatch. For more information, click here.

The Highwood Bulletin is our way of sharing what we learn. We publish regular updates on emissions management news, novel research, and special insights from our team of experts and our partners.

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