Japan Petroleum Exploration Co., Ltd. (Japex) is partnering with Invest Alberta Corporation to advance the former’s sustainability goals in the province.
Japex signed a memorandum of understanding (MoU) with the investment attraction agency established by the government of Alberta, Canada. The two parties aim to work together on Japex’s potential projects in the province, namely carbon capture, utilization and storage (CCUS), bioenergy with carbon capture and storage (BECCS), and blue hydrogen/ammonia. Invest Alberta will support the Japanese firm with its in-depth knowledge of the local market and investment landscape, according to a joint news release from the two parties.
“We are very excited to start working together with Invest Alberta”, Tomomi Yamada, JAPEX Executive Management Officer, President of Overseas Business Division II, said. “JAPEX had a very long-standing history of business in Alberta in the areas of oil sands (as an operator) and natural gas. We are now aiming to come back to Alberta and contribute to its decarbonization, using our expertise and experiences gained through the participation in CCS demonstration project in Japan by investing in the project company and extensive E&P [exploration and production] businesses in Japan as well as overseas”.
“Invest Alberta is honored to partner with JAPEX to help the company seize the opportunities that Alberta offers to investors” Invest Alberta CEO Rick Christiaanse said. “As Canada’s energy capital, Alberta has a skilled workforce and renowned researchers capable of advancing major projects forward in a welcoming business environment. JAPEX is a strong and valuable partner for Alberta, bringing extensive experience in the energy sector and a shared dedication to achieving net-zero through environmentally sustainable projects”.
“Japan is a valued ally and trading partner, so it makes sense we collaborate on lowering emissions together using Alberta’s unique geology, which holds enough space to contain most of the world’s human produced [carbon dioxide] emissions”, Alberta Minister of Energy and Minerals Brian Jean said. “Alberta and Japan have a reputation for technical excellence that will ensure a successful partnership”.
Japex said it has been actively exploring opportunities to “contribute to net zero carbon dioxide emissions in Japan and abroad. Last week, the company along with JGC Holdings Corporation, and Kawasaki Kisen Kaisha, Ltd. signed an agreement to study and plan a carbon dioxide (CO2) storage site offshore Sarawak, Malaysia, with Petroleum Sarawak Berhad (Petros), Petroliam Nasional Berhad (Petronas). Under the agreement, the parties will undertake feasibility studies for carbon capture and storage (CCS) sites as well as plan the development of CO2 storage sites, including onshore terminals and transportation pipelines, as well as an assessment of its techno-commercial feasibility, according to an earlier news release.
New Wind Farm Launched in Alberta
Established by the provincial government, Invest Alberta provides high-end tailored support to companies, investors, and major new projects.
In January, EDP Renewables North America (EDPR NA) and EDP Renewables Canada Ltd. (EDPR Canada), launched the Sharp Hills Wind Farm near the hamlets of Sedalia and New Bridgen in Alberta, Canada. The energy offtaker for the project is Calgary-based TC Energy, one of North America’s leading energy infrastructure companies with operations in the natural gas, oil, and power industries.
Sharp Hills Wind Farm is EDPR Canada’s third renewable energy site in Canada, with 427 megawatts of operating capacity in the country. It represents an estimated capital investment of over $442 million (CAD 600 million), according to a separate news release from Invest Alberta.
“I’m extremely proud of this milestone, as it marks the largest single-phase wind farm developed by EDP Renewables to date in North America”, EDPR NA CEO Sandhya Ganapathy said. “Starting in 2015, we committed to our stakeholders to make this project operational, believing in its ability to spur the Special Areas’ local economy, provide workforce development, and build grid resiliency through Albertan home-grown energy”.
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