Canada's Pieridae plans to capture carbon at Alberta gas facility
27/05/2021 19:04
* Project to help getting LNG export plant off ground -CEO
* Pieridae expects FID on Goldboro LNG facility by June 30
* Carbon capture complex to be the largest in Canada,
company says
By Sabrina Valle
May 27 (Reuters) - Canadian energy company Pieridae Energy
Ltd PEA.TO said on Thursday it plans to capture and sequester
carbon at its natural gas processing facility in Caroline,
Alberta.
The planned Caroline complex - expected to store up to 3
million tonnes of carbon dioxide per year in a depleted
underground reservoir - is part of a growing effort by energy
firms to reduce greenhouse gas emissions to meet increasing
customer and government demand for cleaner energy.
Earlier on Thursday, U.S. liquefied natural gas (LNG)
company Venture Global LNG announced it would capture and
sequester carbon in Louisiana in a move to meet new industry
environmental, social and governance (ESG) targets. urn:newsml:reuters.com:*:nL2N2NE160
Pieridae's complex should help it attract investors for its
planned Goldboro LNG export facility in Nova Scotia, which is
expecting a final investment decision by June 30. Caroline's
total capacity would be able to offset Goldboro's emissions.
“Without a concrete, measurable ESG plan nothing is
financeable these days,” Pieridae's chief executive officer
Alfred Sorensen said.
Pieridae has delayed its final investment decision on
Goldboro several times. Sorensen said the biggest concern now
for whether to go ahead with the $10 billion export plant is its
construction costs. If confirmed, Goldboro would come online in
the first quarter of 2026, he said.
The Caroline complex would be able to remove emissions
equivalent to more than 650,000 cars each year at full capacity,
based on an average of 4.6 tonnes per year of CO2 per car,
Pieridae said. The facility will combine large-scale carbon
capture and sequestration and power production, which Pieridae
said would make it the largest project of its type in Canada.
It will capture CO2 generated at the gas processing
facility, as well as from power production and carbon produced
by third parties. The complex's power production capacity would
come to 7.9 billion kilowatt-hours annually.
(Reporting by Sabrina Valle; aditional reporting by Scott
DiSavino in New York; Editing by Kirsten Donovan)
((Sabrina.Valle@thomsonreuters.com;))