Agreement signed by Stelmach with Abu Dhabi Oil Company

Agreement signed by Stelmach with Abu Dhabi Oil CompanyThere are speculations confirming that Alberta might share notes on its $2 billion investment in carbon capture with a Middle East oil company.

A memorandum of understanding on carbon capture and storage was signed by Premier Ed Stelmach, on a trip to the capital of the United Arab Emirates this week, with Masdar, a company wholly owned by the Government of Abu Dhabi.

The Alberta government issued a news release Wednesday, which said that the agreement promises Alberta and Abu Dhabi "to share information on CCS technologies and policies, support projects of mutual interest, and explore opportunities for collaboration between public and private partners in both jurisdictions."

Stelmach has signed two agreements, out of which the carbon capture agreement is one. The trade mission would be concluded by him with a deal to improve economic co-operation between the governments of Abu Dhabi and Alberta.

Stelmach participated in the World Future Energy Summit held in the United Arab Emirates this week to speak as a panelist.

He had made these two agreements his priority before he left Edmonton for the six-day trip.

Alberta has ensured to support carbon capture projects by giving money to companies, which adds up to one of the world's biggest allocations for the technology.

However, the question in the mind of the critics is whether the technology can solve Alberta's carbon emissions issues and whether taxpayers should be worrying over the funds.

On Thursday, the premier would return to Edmonton.