MD of Greenview Council approved a Memorandum of Understanding with Interprovincial Fuel Solutions Ltd. (IFS) to purchase approximately 200 acres (81 hectares) in the Greenview Industrial Gateway at the January 23 regular council meeting.
IFS intends to develop and construct a $600 million dollar petrochemical facility on the site to manufacture synthetic low-carbon gasoline from natural gas, water and oxygen (Synthetic Gasoline Facility) and subsequently dispose of excess effluent carbon dioxide from GIG lands and dispose of excess effluent carbon dioxide from GIG lands via permanent carbon capture and sequestration (CSS).
Reeve Tyler Olsen underscored the significance of this agreement for the region.
“This gasoline will have the lowest carbon intensity score in the market, with the majority of this potentially consumed within the Grande Prairie Region. Taking locally produced natural gas and upgrading it to gasoline and hydrogen follows the exact vision for the GIG. This development will create hundreds of jobs, local business opportunities, and substantial taxes municipally, provincially, and federally. The development of hydrogen is very exciting and highlights that this region is moving in the right direction.”
IFS anticipates the development of its Synthetic Gasoline Facility to commence in 2025, with construction to commence in 2026.
The planned IFS Synthetic Gasoline Facility in the GIG will generate approximately 600 regional construction positions with an estimated 50-70 full-time positions once construction is complete.
Information provide by the MD Greenview