Calgary Branch Luncheon | Unearthing Risks: Subsurface in CCS Financing
Register by October 9. 2025
Sproule ERCE has recently acted as the lender advisor for the Northern Endurance Partnership carbon store site and Hynet Carbon store site in the United Kingdom. Both reached financial close and enabled the carbon capture and storage (CCS) industrial cluster program in the UK to proceed.
In this session, we draw upon these experiences—and from our other global projects—to explore the communication of subsurface risk in CCS projects, as it pertains to securing finance. To support the discussion we will compare the CCS industry with the oil and gas industry, drawing out the similarities and differences.
For any questions about this event, please contact [email protected].
About the Presenter
Paul Chernik, P.Eng., is responsible for the global services and products offered by Sproule ERCE—a global consulting firm with deep roots in Calgary. Prior to Sproule's merger with UK-based ERCE, Paul launched ERC Evolution as an internal start-up within the ERCE Group. During his time in the ERCE Group, Paul held roles as COO and executive director.
For many years, Paul has been a resources expert, certifying independent studies for the CCS, lithium, and oil and gas industries. These evaluations are used to communicate risk, uncertainty and potential value to the public and private shareholders, debt providers, pension funds, governments, and other stakeholders. Paul’s work has been used for disclosures on the TSX, LSE, AIM, and Nordic NASDAQ markets. He also served as a testifying expert in arbitration processes regarding technical and commercial disputes.
During his time at ERC Evolution, Paul’s work expanded into climate disclosure where he focused on innovation to solve the demands of connecting stakeholders, financial information, and climate information.
Paul has been a visiting lecturer at Royal Holloway, University of London, and sat on the advisory board for the EU ShaleXenvironmenT research consortium.
He is a Canadian professional engineer, registered with APEGA, and a CSA certified GHG emissions verifier and validator. Paul holds an MBA from the University of Cambridge, M.Sc. in chemical engineering from the University of Alberta, and a B.Sc. in chemical engineering from the University of Calgary.