Industrial, Sourcing Renewables - January 31, 2023
Imperial Invests in Canadian Renewable Diesel Facility
Imperial, a Canadian petroleum refiner, said it will invest about $720 million (USD $560 million) to move forward with construction of the largest renewable diesel facility in the country.
The project at Imperial’s Strathcona refinery near Edmonton is expected to produce more than one billion liters of renewable diesel annually primarily from locally sourced feedstocks and could help reduce GHG emissions in the Canadian transportation sector by about 3 million metric tons per year, as determined in accordance with Canada’s Clean Fuel Regulation. Regulatory approval for the project is expected in the near term.
Site preparation and initial construction are underway. Renewable diesel production is expected to start in 2025.
“Imperial supports Canada’s vision for a lower-emission future, and we are making strategic investments to reduce greenhouse gas emissions from our own operations and to help customers in vital sectors of the economy reduce their emissions,” said Brad Corson, Imperial chairman, president and CEO in a statement. “The investment at our Strathcona refinery will deliver immediate benefits to the local economy creating jobs and contributing to a lower-emission energy future for our employees, neighbors and communities.”
The renewable diesel project was first announced in August 2021 with the Province of British Columbia supporting this project through a Part 3 Agreement under the BC low carbon fuel standard. A significant portion of the renewable diesel from Strathcona will be supplied to British Columbia in support of the province’s plan to lower carbon emissions. Imperial also intends to use renewable diesel in operations as part of the company’s emission reduction plans.
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