A group of 19 energy companies announced a carbon sequestration project, the Alberta Saline Aquifer Project, that could cost anywhere from $20-$30 million. The companies, which include ConocoPhillips, TransCanada Corp, BP Plc, EnCana Corp, and others, will spend about $750,000 over the next year identifying deep saline aquifer sites in Alberta that can be used for long term storage. The majority of the $20-$30 million will likely go toward the phase in which the carbon dioxide is taken and stored underground.