Interprovincial Fuel Solutions Limited is set to acquire around 200 acres in the Greenview Industrial Gateway after a Memorandum of Understanding was signed between the energy company and the MD of Greenview.
According to the MD, IFS plans on developing and constructing a $600 million petrochemical facility on the site to manufacture low-carbon synthetic gasoline from natural gas, water, and oxygen.
The facility has the capability to produce 5,600 barrels of “low-carbon, ultra-clean” synthetic gasoline per day, and abides by current and 2030 fuel regulations in Canada. IFS says the gasoline produced in the facility requires no new distribution infrastructure, which will help fuel the transition to a low-carbon economy.
Reeve Tyler Olsen says the operation is significant as the gasoline produced will have the “lowest carbon intensity score on the market,” and will create hundreds of job opportunities for the community.
“Taking locally produced natural gas and upgrading it to gasoline and hydrogen follows the exact vision for the GIG,” he says. “This development will create hundreds of jobs, local business opportunities, and substantial taxes municipally, provincially, and federally.”
The MD says the project will generate 600 regional construction positions with an estimated 50-70 full-time positions once construction is complete. Development is scheduled to begin in 2025, and construction is on track to start in 2026.
