S&P Global
Summary
Irving Oil and TC Energy signed a memorandum of understanding to examine ways to reduce greenhouse gas emissions from New Brunswick and other provinces in Atlantic Canada, the companies said Aug. 12 in announcements.
The joint-venture announcement precedes Canada's Clean Fuel Standard regulation, which goes into effect in 2022 and requires refiners to reduce carbon-intensity levels in liquid transportation fuels from the most recent 2016 levels.
"Together, the two energy companies have identified a series of potential projects for exploration focused on decarbonizing current assets and deploying technologies to reduce overall emissions," the companies' statements said.
"The partnership's initial focus will consider a suite of upgrade projects at Irving Oil's refinery in Saint John, New Brunswick, with the goal of significantly reducing emissions through the production and use of low-carbon power generation," they added.
Irving and TC Energy already have a JV with the Grandview Cogeneration plant, a 90 MW low-carbon power plant located inside the fence line of Irving's 313,000 b/d Saint John refinery.
The Grandview Cogeneration plant has played a part in significantly reducing the refinery's carbon intensity by 750,000 metric tons of greenhouse gas emissions since it was commissioned in 2004, the companies said.
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