The B.C. Government and Calgary based EnCana Corporation have a new agreement aimed, at cutting the natural gas producer’s flaring at a formation near Fort Nelson.
According to a Vancouver Sun report, EnCana estimates that by adjusting its drilling methods, it has reduced emissions at the site by 85 per cent.
Rather than flaring it off into the atmosphere as greenhouse gas, it has been recovering and capturing the gas and then streaming it directly into a pipeline.
Now the B.C. Government’s Pacific Carbon Trust is purchasing 84,000 tonnes of carbon offsets from EnCana, in an agreement that also commits the trust to buy an additional 30,000 tonnes through next year.
The trust doesn’t make public the per-tonne price it pays private sector companies, but those who agree to reduce carbon dioxide emissions earn carbon credits for the amount they curtail.
In this province, the trust has a verification system for each tonne it buys, before it’s sold for 25 dollars to government ministries and agencies, with a carbon neutral mandate.
The trust estimates that it needs 800,000 to one million tonnes per year to meet B.C. public sector demand for offsets.
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