Sunday, July 21, 2024

$2.5-billion project adds to economic momentum

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Northern Petrochemical Corporation has announced plans to establish a multibillion-dollar carbon-neutral ammonia and methanol production facility in the Municipal District of Greenview.

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The facility is expected to provide more than 4,000 jobs during the construction phase and 400 permanent jobs once it is up and running.

This investment is one of many made possible through Alberta’s Recovery Plan, a bold plan to create jobs and diversify the economy – in part by growing our resources and expanding their use to support more industries.

“The announcement of this huge new job-creating project adds even more momentum to Alberta’s exciting economic recovery. Northern Petrochemical’s decision to invest $2.5 billion in ammonia and methanol production shows that Alberta’s natural gas vision and our bold petrochemical strategy is working to create jobs while diversifying our economy, and ensuring a future for our resource industries.”

Jason Kenney, Premier

The facility would be the first of its kind in Canada, with plans to use carbon capture and storage to produce exceptionally low-carbon products that can be used in the energy, agriculture and chemical industries.

“This investment is another example of how Alberta is attracting world-scale hydrogen production facilities via blue ammonia and methanol products. It’s encouraging that Northern Petrochemical recognizes Alberta’s petrochemical advantage and is choosing the Municipal District of Greenview as it strives to build a petrochemical ecosystem able to support more future low-carbon petrochemical projects. The Alberta Recovery Plan is working, diversifying our economy and creating new opportunities for everyday Albertans.”

Dale Nally, Associate Minister of Natural Gas and Electricity

The project is intended to be built in the Greenview Industrial Gateway, a planned industrial sector that offers companies a set of integrated services like carbon capture, utilization and storage, transportation by rail and access to significant natural gas feedstocks. The Northern Petrochemical Corporation project will be the first major investment in this new industrial hub.

“After looking at possible locations nationally and globally, we decided that Alberta would be the best home for this project. New developments here are a strong signal that Grande Prairie and the MD of Greenview are committed to this industry and have the motivation to help bring these projects to life. The Greenview Industrial Gateway and the Alberta Petrochemicals Incentive Program (APIP) are both examples of the right infrastructure and supports in Alberta to create jobs and grow a cleaner energy future.”

Geoff Bury, president and CEO, Northern Petrochemical Corporation

 

“Our economic growth strategy is now paying off. Through measures such as the Job Creation Tax Cut, red tape reduction, and programs like the Alberta Petrochemicals Incentive Program, we’re creating an environment that attracts investment and creates jobs and opportunities for Albertans. The Northern Petrochemical project announced today will contribute to real economic growth with tangible benefits to the region and province.”

Travis Toews, President of Treasury Board and Minister of Finance, and MLA for Grande Prairie-Wapiti

The Alberta Petrochemicals Incentive Program (APIP), introduced in 2020, was designed to encourage investments in petrochemical facilities and help diversify Alberta’s natural gas sector. The Alberta Industrial Heartland Association estimates that there is an opportunity to grow the sector by more than $30 billion by 2030, resulting in tens of thousands of jobs for Albertans.

“Processing natural gas to carbon-neutral, value-added products at the source is the right path to lower overall emissions in the future. This project might be based on industry, but with the overall attention to creating an eco-industrial development, it is one that Greenview can be proud of.”

Tyler Olsen, reeve, Municipal District of Greenview

 

“I’m pleased to see another example of business and governments working together to bring jobs to our community and economic growth for our region and province. Alberta’s Recovery Plan is working and with Northern Petrochemicals’ significant investment today, we are well on our way. ”

Tracy Allard, MLA for Grande Prairie
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