Suncor Energy Inc. Seeks Approval for Upgrader Project with Innovative Gasification Technology
Key Ideas
- Suncor Energy Inc. in Calgary has requested regulatory approval for a new oil sands upgrader project that includes a petroleum coke gasifier to decrease reliance on natural gas.
- The innovative gasification technology aims to process petroleum coke into synthetic gas, reducing gas consumption and supporting environmental sustainability.
- The company plans to implement carbon dioxide capture and geological sequestration strategies to ensure environmentally responsible development.
- The project, estimated at C$5.9 billion, is part of Suncor's growth strategy to increase production capacity above 500,000 bbl/d by 2012.
Suncor Energy Inc., based in Calgary, has submitted an application to Alberta regulators for the construction of a new oil sands upgrader project that would enhance the company's production capacity to over 500,000 barrels per day. This initiative includes the implementation of a petroleum coke gasification system to reduce the company's dependency on natural gas. By converting 20% of the upgrader's petroleum coke into synthetic gas, Suncor aims to utilize this gas for hydrogen production and fuel, thereby promoting energy conservation and value creation from by-products.
CEO Rick George expressed the importance of advancing energy conservation technologies to lessen reliance on natural gas in oil sands development while extracting value from by-products like petroleum coke. Suncor plans to deploy strategies such as carbon dioxide capture and geological sequestration to ensure the environmentally responsible advancement of this technology.
The introduction of gasification technology is viewed as a cutting-edge approach for oil sands production in Canada, where production levels are projected to increase significantly over the next decade. Suncor's project is designed to produce light crude oil, with phased production expected to commence in 2010 and reach full capacity by 2012. This strategic move aligns with the company's goal of exceeding half a million barrels per day, emphasizing both financial returns and environmentally responsible growth.
Furthermore, the utilization of coke gasification systems by Canadian companies like Suncor and others signifies a shift towards sustainable practices in the oil industry. By integrating innovative technologies and environmentally conscious strategies, Suncor aims to pave the way for efficient and responsible oil sands development.
Topics
Utilities
Investment
Regulations
Technology Advancement
Environmental Responsibility
Oil Production
Oil Sands
Energy Conservation
Gasification Technology
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