Alberta Carbon Grid Secures Rights to Evaluate One of Largest Carbon Storage Areas Available Under Carbon Sequestration Tenure Management

Alberta Carbon Grid (ACG) announced that TC Energy and Pembina Pipeline (Pembina) have entered into a carbon sequestration evaluation agreement with the Government of Alberta (GoA) to further evaluate one of the largest Areas of Interest (AOI) for safely storing carbon from industrial emissions in Alberta. This agreement will allow the ACG to move forward into the next phase of the province’s Carbon Capture Utilization and Storage (CCUS) process to provide confidence to customers, Indigenous communities, stakeholders, and the Government in the project’s carbon storage capabilities.

“The world is facing a huge challenge when it comes to energy security and transitioning to cleaner energy and we believe the Alberta Carbon Grid will play a critical role in helping achieve emissions reductions goals in Canada,” said Lindsay Mackay, Vice-President, of Non-Regulated Commercial and Business Development Canadian Gas Pipelines, TC Energy. “We’re excited to achieve this milestone with the GoA and continue our path to becoming industry leaders in the energy transition and providing solutions to our customers.”

ACG has secured the rights to evaluate over 900,000 hectares of premiere land north of Fort Saskatchewan, Alberta that could potentially support a variety of customers throughout Alberta especially those in the Industrial Heartland region. The project’s AOI is considered an ideal CO2 storage location because of its proven deep porous geological formations and ability to handle decades of storage capacity. Based on ACG’s preliminary analysis, there’s confidence in the geological characteristics within the AOI as an excellent long-term and permanent CO2 storage option. The evaluation agreement will allow ACG to further examine the subsurface properties and qualities to prove this.

As an open-access system, ACG is intended to allow customers of all sizes and industries, including oil and gas producers, refineries, petrochemical plants, and agricultural manufacturers, to access the system. ACG looks forward to connecting and working with potential customers across Alberta to meet their carbon sequestration needs.

ACG will be developed in phases – the first phase is the Alberta Industrial Heartland project, which will have the potential capability of transporting and storing up to 10 million tonnes of CO2 annually when fully developed. Beyond that, ACG will look to grow and expand through multiple storage hubs to up to 20 million tonnes of CO2 annually throughout Alberta, which would be equivalent to removing 7.5 million cars off the road each year.

“We believe that the Alberta Carbon Grid is a transformational project for Alberta and will help Canada reach its ambitious target of net zero by 2050,” said Fabrizio Chiacchia, Vice President, New Ventures, Pembina. “We have an amazing opportunity to lead the way and are excited to work together with industry, government, and stakeholders to reduce emissions and develop new technologies along the way.”

ACG is still in the planning stages for the full evaluation work on the project and will continue to provide updates when more details are available. We look forward to continuing to collaborate with the government, industry, customers, Indigenous communities, and key stakeholders to advance this important work.

About the Alberta Carbon Grid

The Alberta Carbon Grid (ACG) is a world-leading carbon transportation and sequestration solution being designed to serve multiple customers, industries, and sectors. A collaboration between Pembina and TC Energy, ACG is focused on providing CO2 transportation and sequestration solutions across Alberta by leveraging both companies’ collective skills, experience, and extensive network of pipeline infrastructure and right-of-ways.

ACG is exploring options to potentially create several ACG hubs, throughout the province, that would be designed to independently, safely, and cost-effectively collect and store CO2 from customers across multiple industries. The long-term vision is to annually transport and store up to 20 million tonnes of CO2 through several hubs across Alberta.

The Alberta Carbon Grid is part of Pembina’s and TC Energy’s commitment to energy diversification, industry collaboration, and a lower carbon future that benefits the environment and the Alberta economy.

For more information, visit AlbertaCarbonGrid.ca.

About TC Energy

We’re a team of 7,000+ energy problem solvers working to move, generate and store the energy North America relies on. Today, we’re taking action to make that energy more sustainable and more secure. We’re innovating and modernizing to reduce emissions from our business. And, we’re delivering new energy solutions – from natural gas and renewables to carbon capture and hydrogen – to help other businesses and industries decarbonize too. Along the way, we invest in communities and partner with our neighbors, customers, and governments to build the energy system of the future.

TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP.

To learn more, visit us at TCEnergy.com.

About Pembina

Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America’s energy industry for more than 65 years. Pembina owns an integrated network of hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and a growing export terminal business. Through our integrated value chain, we seek to provide safe and reliable infrastructure solutions which connect producers and consumers of energy across the world, support a more sustainable future and benefit our customers, investors, employees, and communities.

For more information, please visit Pembina.com.