In Canada, CBC News reported that Calgary-based Nauticol Energy has confirmed it will not move forward with the proposed $3-billion net-zero blue methanol plant near Grande Prairie. The project, which had been initially announced in 2018, was expected to start operating in 2025. Nauticol president and CEO Mark Tonner said that the project had been negatively impacted by the pandemic. “Some of the headwinds that we encountered were just costing us too much time and money to overcome,” Tonner said in an interview with CBC News. “So these obviously include enduring two years of a global pandemic and the upheaval in the capital markets. There’s significantly less appetite for risk and uncertainty compared to when we launched the project,” Tonner added. “And over the last few months, we’ve been working closely with some of our First Nation partners to review alternative paths.” The executive said that the company might decide to move forward with a smaller plant at the same location. “It is entirely possible that a scaled-down net-zero methanol plant may very well be proceeding on the site,” he said.
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Category: Chemicals & Materials
