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Clean energy project set to create jobs and boost Alberta’s economy

GRANDE PRAIRIE, ALTA.– Nauticol Energy Ltd. (Nauticol) announced today its intention to construct a $2 billion world-scale methanol manufacturing facility in the County of Grande Prairie. Nauticol President and CEO Mark Tonner made the announcement at Centre 2000, the tourism and trade facility for the Grande Prairie region.

The project will produce up to 3 million metric tonnes of methanol per year, converting Alberta’s natural gas into a value-added product. Methanol is a multi-purpose product with several end uses, including fuels (automotive, marine, etc.), electronics, construction materials, solvents and petrochemicals. Methanol use in clean alternative fuels is leading to significant growth in global demand.

In addition to promoting economic development in Alberta, this project will create approximately 1,000 construction jobs and 200 permanent jobs in the province. Development will take place on existing disturbed land, adjacent to the existing International Paper Canada pulp mill. Building a highly modularized facility and optimizing infrastructure with our industrial neighbours in this industrial zone limits impact to local communities and reduces the project’s ecological footprint by 50% compared to a traditional methanol facility of this scale.

Starting in 2019, the facility will be built in three stages, using a modularized design. PCL Construction will construct the facility modules in Alberta and transport them to the Grande Prairie site, which is located about 10 kilometres south of the City of Grande Prairie.

“Nauticol is committed to building value-add industry in the Grande Prairie region. This leading-edge facility will create 75,000 people years of employment and adds value to Alberta’s abundant natural gas supply,” said Mark Tonner, President and CEO of Nauticol Energy Ltd. “This is a made-in-Alberta/made-for-Albertans project that will add tremendous economic, environmental and societal benefits both here and around the world.”

While some of the methanol produced will supply local markets, most will be directed to Asian markets, which make up approximately 70% of current global demand.

Nauticol has signed a Memorandum of Understanding with the Western Cree Tribal Council (WCTC) whereby the WCTC will be equity participants in the project. This agreement sets a new precedent in Alberta.

“Nauticol truly values the meaningful relationships we have developed with the Western Cree Tribal Council,” said Tonner. “Our company is committed to a partnership built on reciprocity, shared knowledge and shared opportunities.”

In the coming months, Nauticol will be working with all levels of government to obtain the required regulatory permits to successfully complete the project. The company has also started consultation and stakeholder engagement with the public, and has committed to continuing to do so throughout the project’s lifespan.

Nauticol’s management team brings together a full range of management, financial, technical and operational experience to execute projects in the energy and petrochemical sectors.

Earlier this year, Nauticol, along with its partners, announced the proposed development of an integrated methanol and urea project in Bécancour, Québec.

Article provided by Nauticol Energy Ltd.