SEPT-ÎLES, – Québec unveils Cryopeak as one of the four proponents who qualified at the end of the call for projects for North Shore supply of liquefied natural gas. As an approved LNG solutions provider, businesses in the North Shore region will be able to choose Cryopeak services depending on their specific needs. In accordance with the call for projects, Québec confirms the establishment of a program of financial assistance for industrialists who will convert to natural gas.
The Minister of energy and natural resources and Minister responsible for the Côte-Nord region, Mr. Jonatan Julien, made the announcement today during his visit to Sept-îles.
Launched last year by the Department of energy and natural resources (MERN) and the Northern plan Corporation (SPN), the project call was to select one or more private proponents to implement a liquefied natural gas service solution on the North Shore territory and potentially Northern Quebec. This service will allow large industrial producers, mining companies, shipowners and North-Shore shipping carriers to have access to this source of energy in a stable and competitively priced manner.
It should be recalled that the Côte-Nord is currently the only industrial region in Quebec that is not served by natural gas and that electrical technologies are still non-existent for industrial heaters required by companies in the region. Its consumption of petroleum products, particularly oil, is important.
In this regard, several North-Coast industrial companies expressed a common willingness to have access to natural gas that emits 30% less greenhouse gas than oil. The Government of Quebec fully supports them, as evidenced by the measures announced in the 2019-2020 budget.
Financial assistance programs
An amount of $25 million is granted over three years to finance investments related to the construction of LNG storage infrastructure and regasification for the benefit of the industrialists who will convert to it. In order to be eligible for this support, companies will need to purchase from one of the four selected suppliers. This amount will be managed as part of a program that the Department of energy and natural resources is going to put in place.
In addition, a new component for major industrial projects will be added to the energy transition Québec program, with an envelope of 45 million specifically for the conversion to natural gas of large-scale industrial consumers petroleum products located on the north shore.
“The North Shore is a region where the consumption of petroleum products such as heavy fuel oil is important and it has been several years since elected officials, major industrial producers, mining companies, shipowners and shipping carriers were claiming a natural gas service. Thanks to the measures announced in our Government’s last budget, we are injecting more than 70 million for liquefied natural gas service on the north shore. Now the region will be able to improve the competitiveness of its companies and have an incentive to attract new industrial projects that will be able to use greener energy. “
Jonatan Julien, ministre de l’Énergie et des Ressources naturelles et ministre responsable de la région de la Côte-Nord
Proposal: Cryopeak proposes to transport LNG by tanker trucks, from the GM LNG plant, located in Montreal.