Canadian oil and gas operator Keyera and CN are exploring the possibility of building a clean energy terminal in Alberta, Canada.
The two companies have signed a memorandum of understanding to evaluate efforts that they say will create an infrastructure that can aggregate conventional and clean energy from a variety of sources and transport those products.
“This project leverages CN’s core strength: the safe and efficient movement of Canada’s natural resources to domestic and international markets,” CN President and CEO Tracy Robinson said in a news release. “We are excited to work with Keyera on this project, which will benefit Alberta and the Canadian economy.”
The facility can handle six inbound and outbound high-capacity trains daily, the companies said, and will be built on adjacent land owned by Keyera and CN. Its location is in close proximity to major industrial facilities, and there is already infrastructure to support the terminal, including carbon sequestration facilities.
“The clean energy terminal will be a significant investment in new infrastructure Industrial Center of Alberta (AIH),” said Mark Plamondon, executive director of the Alberta Industrial Center Association. “The terminal will increase AIH’s competitiveness, underpinning additional new clean energy investments that take advantage of centralized loading and cost-effective access to global markets. This investment also shows that the successful collaboration has been effective, helping to create new economic opportunities and expanding the already robust offering at AIH.”
In accordance with Government of Alberta websiteConventional and unconventional oil production in the province has been steadily increasing over the past 10 years, from January to June 2022, oil production was 104 million cubic meters, an increase of 2.4% compared to the same period in 2021. This would equal approximately 654.3 million barrels.
Natural gas production in Alberta from January to June was 54.3 billion cubic meters, an increase of 6.7% compared to the same period in 2021. This would equal approximately 1.97 trillion cubic feet.
In accordance with Association of American RailroadsCanadian freight railways moved 282,070 cars across the country year-to-date through Saturday, an 8.3% increase over the same period last year.