CALGARYÂ – Building on Keyera’s efforts to advance sustainable energy solutions for its own business and that of customers, Keyera Corp. (“Keyera”) and Shell Canada Limited (“Shell”) have signed a memorandum of understanding (MoU) to collaborate on potential low-carbon projects in Alberta’s Industrial Heartland. This collaboration would leverage existing assets, adjacent lands, and strong leadership to support industry’s journey to a lower-carbon future and attract new investment opportunities to the region.
Together, Keyera, an experienced midstream player, and Shell will explore opportunities to build a future open access gathering and distribution network to transport captured CO2 from Keyera and other operations in the region to Shell’s proposed Polaris CCS storage hub for safe, reliable, and economic storage. Keyera would also leverage an existing pipeline capable of transporting hydrogen to complement a hydrogen manufacturing and distribution network within the region. These ventures would provide Keyera, and industry, the opportunity to meaningfully decarbonize their operations.
“Our strategic collaboration with Shell is founded on a shared vision to advance continued decarbonization of the energy industry, Alberta’s economic resiliency, and Canada’s objective to achieve a net zero future. This opportunity supports the collective decarbonization ambitions of Keyera and our many industrial neighbors,” said Dean Setoguchi, Keyera’s President and CEO. “We believe that together, Keyera and Shell can successfully build on our respective expertise and existing assets in the Heartland to enable the development of a low-carbon project in Alberta.”
“As Canada’s energy system continues to evolve and change companies both big and small will need to find ways to reduce emissions,” said Susannah Pierce, Shell Canada President and Country Chair. “The agreement with Keyera will drive increased collaboration to develop low-carbon energy projects and technologies that are needed by society in our journey to net zero.”
“Keyera, in partnership with Shell, is building on the tremendous value proposition in Alberta’s Industrial Heartland by developing regional infrastructure that supports industrial decarbonization in Alberta and Canada. This collaborative approach leverages synergies across our region to advance industrial growth, inclusivity, and energy diversification while reducing greenhouse gas emissions, highlighting the region’s position as a leader in Canada’s low-carbon future,” said Mark Plamondon, Executive Director, Alberta’s Industrial Heartland Association.
Together, Keyera’s assets and Shell’s capabilities would further strengthen the development of Canada’s low-carbon future.
About Keyera Corp.
Keyera Corp. (TSX:KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.
SOURCE Keyera Corp.
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