The Pacific Future Energy’s $10bn refinery project is expected to create thousands of long term jobs as well as improves economic stability at home by expanding Canada’s oil market access.
Pacific Future Energy executive chairman Samer Salameh said the company believes this is a very unique opportunity to build the greenest refinery in the world and there’s no better place than BC.
"Our pre-feasibility study has begun, which will analyze the economic, social and environmental aspects of the refinery and help to determine the prospective site and expect to launch our feasibility and regulatory process in the next 9-12 months," Salameh added.
The near zero net carbon (NZNC) emission refinery will export processed Northern Alberta oil.
Scheduled to be built in modules, each processing 200,000 barrels of bitumen per day to ensure scalability and flexibility, the refinery can process up to 1,000,000 barrels per day, starting with the first phase of 200,000 barrels per day, upon completion.
"By shipping refined products, we will eliminate the threat of a heavy oil spill. By building a refinery, based on NZNC emissions standards, we will reduce the emissions that contribute to global climate change."
Indigenous Partnership vice president Jeffrey Copenace commented, "From the very beginning, and every step of the way, our partnership with First Nations will ensure that we all benefit from traditional and ecological knowledge, while respecting their rights to full consultation and accommodation — all with the goal of shared prosperity and health for future generations."
Image: Pacific Future plans to build $10bn refinery in Canada. Photo: Vichaya Kiatying-Angsulee/Freedigital.net.
