Emissions Reduction Alberta (ERA) funding supports $83 million in new technology projects to help industry deliver on Alberta’s commitment to reduce methane emissions
EDMONTON, ALBERTA–(Marketwired – July 7, 2017) - Emissions Reduction Alberta (ERA) has committed funding to 12 innovative methane-reducing technology projects. The projects have a combined value of more than $83 million, and are approved for up to $29.5 million in ERA funding. The projects target methane emissions monitoring, detection and reduction in the oil and gas, power generation, agriculture and forestry sectors.
“Achieving Alberta’s goal of reducing methane emissions requires the development and deployment of new technologies,” said ERA CEO Steve MacDonald. “The ERA-funded methane projects will help deliver the GHG reduction solutions that Alberta, Canada and the world need.”
The new initiatives are the result of the ERA Methane Challenge, and were selected for funding through ERA’s competitive process. ERA leveraged its investment to advance projects that will help industry meet the province’s climate leadership objective to reduce methane emissions by 45 per cent by 2025.
“We are drawing on tremendous technical expertise and the capacity of Alberta companies to accelerate development of the innovative methane-reducing technologies we need in a lower carbon world,” said Shannon Phillips, Alberta Minister of Environment and Parks and the Minister Responsible for the Climate Change Office. “This commitment to innovation supports economic prosperity and creates employment opportunities for Albertans.”
“We’re proud to be growing Alberta’s reputation as a responsible energy producer, with industry and government working together and leading the way in addressing climate change,” said Margaret McCuaig-Boyd, Alberta Minister of Energy. “Our made-in-Alberta approach to methane reduction will ensure we meet our targets and increase environmental protection in a way that maintains the competitiveness of our oil and gas industry.”
The climate change impact of methane is 25 times greater than carbon dioxide over a 100-year period. Methane reductions resulting from these 12 projects are estimated to be more than 1.1 MT by 2020 and more than 6.9 MT by 2030. These projects will also lead to more than $60 million in spending in Alberta and approximately 60 direct jobs.
ERA worked closely with the Government of Alberta, the Canadian Association of Petroleum Producers (CAPP), Alberta Energy Regulator (AER), Canada’s Oil Sands Innovation Alliance (COSIA), Pembina Institute, and others to develop the ERA Methane Challenge. ERA has plans to further leverage its investments with other funding partners, such as the Ontario Centres of Excellence.
“Through the support of Emissions Reduction Alberta, the proceeds from industrial large emitters are being reinvested to accelerate progress in emissions reductions in the oil and natural gas industry,” said Joy Romero, Vice President, Technology and Innovation at Canadian Natural Resources Limited. “These investments are critical to ensuring that Alberta is the preferred source of responsibly produced oil and natural gas.”
The ERA Methane Challenge launched in October 2016 to develop and demonstrate innovative technology solutions to help Alberta detect, quantify, and reduce methane emissions. The organization received 118 submissions through the competition.
ERA works with industry, government and the innovation community to invest in and advance the technologies needed to reduce greenhouse gas emissions and build a stronger, more diversified economy. To date, ERA has committed to more than $340 million in funding to over 120 projects with a total value of over $2.3 billion.
The Province of Alberta provides grants to ERA from the Climate Change and Emissions Management Fund to enable ERA to fulfil its mandate.
Note: Background on the funded projects is available here: http://eralberta.ca/wp-content/uploads/2017/07/ERA-Methane-Challenge-Backgrounder.pdf