Northwestern Alberta Gets a $2.5 Billion Carbon-Neutral Petrochemical Plant

On a 295-acre site, a Calgary-based petrochemical company plans to build a carbon-neutral plant near Grande Prairie to produce ammonia and methanol.

The agreement was signed on Wednesday between the Greenview Municipal District and Northern Petrochemical Corp.

This plant will be able to produce over 200 million tonnes of methanol and ammonia from natural gas anually. The company also plans to capture and store carbon underground.

He estimates the project will create about $3 billion in taxes over its life span. 

Up to 4,000 construction jobs and 400 long-term jobs are expected to be created as a result of the project. Starting in spring 2023, construction is expected to last through the spring of 2026.

At a press conference in Valleyview, Alta, NPC CEO Geoff Bury said the company plans to work with Grande Prairie Regional College to develop programmes that will help fill those positions. Land, water, power, natural gas and carbon storage are all readily available at the Greenview Industrial Gateway. Bury also noted that rail and port access are nearby.

 “We believe that this project is going to be a key part of Alberta’s transition to a clean energy future,” he said. 

According to Bury, the demand for ammonia, which is used mainly to produce fertilizer, is 190 million tonnes per year. “The ammonia market is going to take off and grow dramatically over the coming years,”

The Alberta Petrochemical Incentive programme, which allows companies to apply for grants for up to 12 percent of a project’s eligible capital costs, will support this project.

Finance Minister Travis Toews affirmed the province’s commitment to these initiatives. “We did that so we could be very competitive with other jurisdictions,” Toews said at the news conference.

Alberta Premier Jason Kener said the petrochemical plant is “more evidence that Alberta’s economic recovery is real and it’s big.”

Additionally, Greenview Reeve, Tyler Olsen said the project has been in develoment for over five years. 

“This is the next crucial step,” Olsen said. “It’s a great announcement.”

Original source material for this article taken from here