Feds commit over $72M to clean technologies in Alberta oil and gas
Posted March 14, 2019 2:38 pm.
Last Updated March 14, 2019 2:42 pm.
This article is more than 5 years old.
CALGARY (660 NEWS) — Two Alberta oil and gas companies are getting a boost from the federal government to develop clean technologies.
Canadian Natural Resources Limited (CNRL) and Titanium Corporation will receive $72.3 million to fund three new projects.
Feds are providing over $72M to CNRL & Titanium Corporation to fund three clean energy projects in Alberta. #yyc #abpoli #CdnPoli pic.twitter.com/Opf055Q8VV
— Jenna Giles (@j_hamilton04) March 14, 2019
The projects will focus on reducing carbon emissions and also eliminating tailings ponds.
These are the projects. #abpoli #cdnpoli #yyc pic.twitter.com/TKez0mqXnx
— Jenna Giles (@j_hamilton04) March 14, 2019
“These projects provide Alberta’s oil and gas sector with solutions that will help reduce pollution, drive clean innovation and create good jobs. Accelerating clean technology development is a key component of our government’s approach to promoting sustainable economic growth as Canada moves toward a low-carbon economy,” said Natural Resource Minister, Amarjeet Sohi.
CNRL will receive $5 million from the Clean Growth Program to further develop an in-pit extraction process that will reduce the number of diesel trucks and the amount of power needed on their sites.
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Emissions Reduction Alberta is also investing $5.6 million in this project.
CNRL will also see $22.3 million from the Low Carbon Economy Fund for a new steam turbine generator, that will help produce power for its facilities at the Athabasca Oil Sand Project.
Titanium will receive $45 million from both funds to remediate oil sands tailings at CNRL’s Horizon Oil Sands site by recovering valuable minerals from oil sands tailings. The project has potential to create a new minerals industry in Canada.
“Cleaning up tailings ponds and using that to produce a value, value such a minerals and recovering some of the bitumen that goes into those tailings ponds, it not only helps the environment but helps us create more jobs,” said Sohi.
According to the government, this funding will leverage more than $415 million in investments.
