Our Energy Management Plan
In late 2019, Pieridae acquired Shell’s Foothills assets. In 2020, an initiative was kicked off to create a consolidated Energy Management Plan (EMP) for these and all of the company’s assets.
We are focused on the evaluation of carbon-related risks and opportunities to set future goals and enable informed business planning. A multi-year program is underway to develop and advance the EMP, which includes the continuation of frontline, incentivized programs for emission reduction, and repurposing and optimizing reservoirs and equipment to reduce our carbon footprint
Leadership in Lowering Emissions
We are developing a Made in Alberta solution that will enable Pieridae to play a key role in helping to lower overall provincial greenhouse gas emissions and support the global push to find ways to transition to a lower-carbon economy.
The Caroline Carbon Capture Power Complex, to be built at our Caroline Gas Plant Facility, will be a combination of a large-scale Carbon Capture and Sequestration (“CCS”) Project and a ‘blue’ power facility. Blue power is conventionally produced power where all the emissions are captured and stored.
Pieridae will work with several partners to ensure the vision becomes a reality, and we expect one of those partners to be an Alberta First Nations development group
The CCS Project involves storing up to three million tonnes of carbon in a depleted underground gas reservoir. Pieridae plans to capture carbon from three different sources: CO2 generated as a natural byproduct of the gas plant processing, CO2 generated from the power facility and nearby third-party CO2.
When fully operational, the project’s initial phase will capture and store up to one million tonnes of CO2annually. This is the equivalent of taking 220,000 cars off the road each year. Our analysis shows there is capacity to store 100 years of carbon in our Caroline reservoir.
Additional investment will move the project from one to three million tonnes a year for a duration of 33 years of continuous storage at this level.
Three million tonnes would be the equivalent of taking more than 650,000 cars off the road annually.
The power facility at Caroline will be designed to produce up to 900 megawatts. This facility would repurpose existing infrastructure and utilize combinedcycle gas turbines to produce the power. CO2 emissions captured and sequestered annually would equal 400,000 tonnes
“This leading initiative is a tangible way of supporting the transition to a lower-carbon economy.” Pieridae SVP Marketing & Business Development Thom Dawson.
Committed to Net Zero Emissions for our Goldboro LNG Project
While we are dedicated to continually look for ways to reduce emissions at our core assets in Alberta, the company can also play a role in lowering its overall carbon footprint as a global-scale producer and supplier of cleaner, liquefied natural gas through our planned Goldboro LNG Facility in Nova Scotia.
Rather than have a commitment to net zero as a talking point, Pieridae took things one step further in 2020 by working with an independent third party to do an assessment of what a path to achieve this goal for the LNG Facility would look like. Using a comprehensive energy economy modeling framework, this analysis identified emissions intensity benchmarks within which Goldboro LNG can comply with a net zero-emission future and highlighted three net-zero pathways:
- Source natural gas that demonstrates a commitment to a net-zero future.
- Reduce emissions at the LNG terminal.
- Purchase offsets for emissions above the net-zero benchmark.
These pathways involve solutions such as carbon capture and storage, ‘green’ transportation, electrification, ‘clean’ natural gas, ‘clean’ power generation, direct air capture, bioenergy with carbon capture and storage, land use, land-use change, forestry, and fugitive emissions reduction. Pathways solution offsets are available to us, and government policies and leadership give assurances to the market that there is a level playing field.
Once we determine the relevant and achievable pathways to net zero, we will develop a strategy to achieve this goal and report on progress as appropriate.
100% of the production from Train 1 of the Goldboro LNG facility has been sold to Uniper, a German energy company, under a 20-year contract. Germany passed legislation in July 2020 to shut down all coal-fired power plants by 2038. LNG from the Goldboro LNG facility in Nova Scotia will support Germany’s energy transition by providing a lower-emission alternative while coal is phased out.