Irving Oil and TC Energy, both Canadian-based companies established a memorandum of understanding to explore the joint development of diverse technologies aimed at reducing carbon emissions in New Brunswick and Atlantic Canada.
Firstly, the companies have identified a series of potential projects for exploration; focused on decarbonizing current oil assets, and also deploying emerging technologies to reduce overall emissions.
Secondly, during the first phase of solutions, the companies will consider a suite of upgrade projects at Irving Oil’s refinery in Saint John; New Brunswick. The goal would be to significantly reduce emissions; through the production and use of low-carbon power generation.
Thirdly, for further deployments, Irving Oil and TC Energy will explore opportunities via the production and distribution of low emission hydrogen; coupled with a world class carbon capture and sequestration network.
Moreover, the partnership will target industry solutions that will lower the emissions in the Atlantic Canada region; to align with carbon reduction goals and enhance the opportunities for future development.
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Irving Oil and TC Energy strike made-in-Canada-for-Canada deal
On the other hand, Irving Oil and TC Energy have a long history of working together; including on the development and operation of Grandview Cogeneration; a 90 MW low-carbon power plant located inside the Saint John refinery.
Furthermore, the Grandview Cogeneration helped to significantly reduce the carbon intensity of the Saint John refinery, resulting in up to 750,000 tonnes of avoided greenhouse gas emissions and positioning the facility in the top-tier of global refineries.
Consequently, the partnership has a robust potential of advancing all these solutions for Canada. The agreement was hailed at a made-in-Canada-for-Canada solution. About such matters, Irving Oil President Ian Whitcomb, said. “We are uniquely positioned to develop innovative solutions and adopt green technologies; while continuing to provide a secure supply of energy in the regions where we operate.”
Finally, on his side, François Poirier, Chief Executive Officer and President, TC Energy, said. “Through collaboration with industry partners; and also, by leveraging our irreplaceable infrastructure, we can contribute meaningful advancements toward the energy future; while providing the safe, reliable energy people need every day.”
