Monday, March 27, 2023

ExxonMobil affiliate puts US$560 million to develop ‘largest renewable diesel facility’ in Canada

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ExxonMobil’s majority-owned affiliate, Imperial Oil Ltd., has committed US$560 million to commence construction of the largest renewable diesel facility in Canada.

Imperial’s renewable diesel facility will use low-carbon hydrogen produced with carbon capture and storage technology to help Canada meet low-emission fuel standards. Exxon said Imperial has entered into an agreement with US industrial gases company, Air Products, for low-carbon hydrogen supply and is developing agreements with other third parties for bio feedstock supply. It said the low-carbon hydrogen and bio feedstock will be combined with a proprietary catalyst to produce premium lower-emission diesel fuel and will help reduce greenhouse gas emissions from the transportation sector, relative to conventional fuels.

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Site preparation and initial construction of the facility are underway. Renewable diesel production is expected to start in 2025. The project is expected to create about 600 direct construction jobs, along with hundreds more through investments by business partners.

The project at Imperial’s Strathcona refinery is expected to produce 20,000 barrels of renewable diesel per day primarily from locally sourced feedstocks. Exxon said it could help reduce greenhouse gas emissions in the Canadian transportation sector by about 3 million metric tons per year.

The facility is a part of ExxonMobil corporation’s plans through 2027 to invest approximately US$17 billion in lower-emission initiatives.

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“The Strathcona project is another example of how we are investing in advantaged facilities and applying our leading technology and decades of experience to develop lower-emission solutions for customers,” said Karen McKee, president of ExxonMobil Product Solutions. “We continue to focus investments on markets like Canada, where well-designed policies support technologies that reduce life-cycle emissions.”

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