'It's done': Petrochemical proponent laments $4B project's demise yyc yycbiz ableg Column by ChrisVarcoe:
With the demise of Nauticol Energy’s $4-billion methanol plant near Grande Prairie, that cycle has now begun.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
“We had to stop the project because we had to bring together a number of parties . And it turns out, one of the parties didn’t fulfil their commitment — let’s put it that way — and we ran out of time,” he said in an interview. The site 15 kilometres south of Grande Prairie where the Nauticol Energy Methanol plant was supposed to be constructed.At the time, the NDP government wanted to grow the province’s petrochemical sector and was willing to offer incentives to companies that could add more value to Alberta’s resources.
It decided to incorporate carbon capture and storage technology into the development, storing up to one million tonnes of CO2 underground annually.Article content “It’s not something that is a great deal of fun, but a combination of delays from COVID, and it being a project where you had to bring together parties that are not used to working together, that created extra impediments for us,” he said.Petrochemical projects are part of an industry the province is still actively seeking to expand.
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