Calgary-based Nauticol Energy announced on Tuesday its intention to construct a $2 billion methanol manufacturing facility in Grande Prairie, in the heart of Montney drilling activity.
The planned facility has the support of the Western Cree Tribal Council, which has signed an agreement to be an equity partner.
The project will convert natural gas into up to three million metric tonnes of methanol per year, feeding end uses such as fuels, electronics, construction materials, solvents and petrochemicals.
While some of the methanol produced will supply local markets, most will be directed to Asian markets, which make up approximately 70 percent of current global demand, the company said.
The proposed project is located on existing disturbed land about 10 kilometres south of Grande Prairie. Nauticol expects to start building it in stages, using modules fabricated by PCL elsewhere in the province. Read more…