March 10 (Bloomberg) -- Canada will require new oil-sands projects and coal-fired electricity plants to capture and store most of their greenhouse gases as part of new climate-change regulations to be introduced this week, the Globe and Mail said.

Environment Minister John Baird will elaborate on an existing proposal to force companies to cut carbon emissions by 18 percent by 2010 for every production unit and by 2 percent more each year until 2020, the newspaper reported today.

New oil-sands companies will have to store their emissions, while those in operation before 2004 would fall under the 18 percent rule, Baird told the newspaper in an interview. Baird said the new rules will cost industry C$25 ($25.32) for each metric ton of carbon dioxide by 2010 and double to C$50 by 2016 and C$65 by 2020.

Canada wants to cut greenhouse-gas emissions by 20 percent below 2006 levels and as much as 70 percent by 2050.

To contact the reporter on this story: Kevin Bell in Toronto at kbell2@bloomberg.net

Last Updated: March 10, 2008 07:53 EDT